Buying Online Makes Consumers Car Insurance Savvy

A new survey by price comparison site Gocompare.com has found that 42% of UK motorists say they know more about car insurance after buying it online – and price isn’t their only consideration.

If you want to make sure you know what to look for when you buy car insurance, you should be buying it online. That’s the verdict of a new survey commissioned by price comparison site Gocompare.com.

Of the 2,030 British drivers questioned, 42% said they know more about the features and associated excesses of their policies after buying them online, compared to when they had used a broker or bought insurance over the phone.

11% of respondents also said they had only ever bought their car insurance online, highlighting a trend of going to the internet first to find the best deals on financial products.

As drivers become more savvy about their car insurance, fewer are basing their decisions on price alone. According to the survey, just 14% said their choice was based just on price. For the others, different levels of cover, features and excesses are the deciding factors as drivers look for policies that better protect them.

Gocompare.com spokesman Lee Griffin said, “It’s so important that drivers make an informed choice about the cover they need rather than simply choosing on price, so it’s great to see that UK consumers now feel much more knowledgeable about the car insurance they buy.”

Moneyhighstreet comments: “It’s important not to assume that what happens to be a good deal now will remain so.

“When it’s time to renew your car insurance, read through your renewal notice carefully. Things like increased premiums, higher excesses and reductions in cover can easily be added over time.

“And before you renew your policy, have another look around online to see if you’re still getting the best deal. Switching when it’s time to renew could save you money.”