Acquisition of Car Insurance Online can be Route to Cheaper Quotes
Retail has notably shifted into the online world as consumers seek more internet exclusive deals – car insurance seems to be following suit. Insurers have come under fire as quote prices in general inflate, so much so that the Office of Fair Trading (OFT) are investigating the entire industry but their early findings suggest deals acquired through the internet can save drivers some cash.
The topic of referral fees was a big deal in 2011 as insurers were accused of selling claimant details to lawyers. The theory being solicitors would then approach accident victims, directly suggesting they should make a claim – a claim which would cost the insurers – a cost they would compensate for with increased quote prices for everybody.
It was a vicious circle and caught the attention of the OFT. Still, their investigation has revealed that quote prices are not rising as rapidly as is presumed and shopping around for car insurance online may just be the answer to finding a reasonable quote.
Drivers in Northern Ireland are reported to receive quotes 11% higher than motorists in the UK but the OFT suggest that could be due to the fact less people shop around for insurance in the area. They stated 55% of people from NI compare quotes, whereas 73% compare in mainland UK.
Their investigation also suggested premiums rose by just 12% between 2009 and 2010 and a further 9% from then until September 2012. A rise is a rise and nobody is happy to pay out more but these figures are significantly lower than the 40% increase proposed in early year reports.
Out of those who can afford to, some people are opting to purchase brand new vehicles on finance, with the added bonus of free insurance for the first year. That option is out of the question for most though and seeking a reasonable car insurance quote from Swinton has become an alternative.
Swinton is one of Britain’s biggest high street brokers and their integration into the online world has granted them even more exposure. Their offline experience and host of contacts in the industry allows them to negotiate and hunt down appropriate quotes for the individual applicant who prompts the process online.
Car insurance has been stagnantly rising over recent years but with the OFT rustling up the current quoting systems and the Competition Commission waiting in the wings to enforce any necessary changes, those rises may cease or even begin to reverse.