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Cost and quality of cover are biggest concerns for drivers choosing car insurance

08 September 2013

Cost is the key driver for most Brits when choosing a car insurance policy, while just over half are influenced by the quality of cover being offered.

The research into factors influencing motorists' choice of car insurance policies, commissioned by Gocompare.com, revealed that in addition to the price of the policy, drivers were concerned about the level of cover on offer and the insurer's reputation, particularly in the relation to paying out for claims:

Rank

Reason for choosing car insurance provider

%

1

Cost

75

2

Quality of cover

51

3

Insurer's reputation

33

4

I trust the insurer to pay out if I need to claim

32

5

The ability to pay in monthly instalments

28

6

If I get a good deal (e.g. 11 months cover for the price of 12, second vehicle discount, free gift)

21

7

Recommended by friends and family

12

8

Specialist provider (older/younger/ women drivers, sports/classic cars)

5

9

Recommended by an insurance broker

4

10

I like their advertising

2



Scott Kelly, head of car insurance at Gocompare.com, commented: "For many drivers insurance represents a significant part of the cost of running a car, so it is no surprise that cost is an important consideration in choosing an insurance policy.  However, we would suggest drivers not pick a policy based on price alone, but to also think about the level of cover they need.  A number of insurers include additional features, such as a courtesy car, breakdown cover or legal assistance as standard, but some insurers offer these as optional extras. So before signing up to a policy you need to think about the level of cover you need and whether you could buy it cheaper elsewhere.  For example, breakdown cover is frequently offered as an additional extra with car insurance, but may be cheaper bought as a separate, standalone policy."

Scott Kelly continued, "Our research found that for some people special offers or the ability to spread the cost of their insurance by paying in instalments are important factors when buying insurance.  But motorists should consider the full cost of what they are being offered, bearing in mind that many insurers charge a fee for paying monthly."

Gocompare.com offers the following guidance for helping to reduce the cost of car insurance premiums:

  • Don't automatically renew your car insurance, the best company for you a year ago, may not be the best today.
  • Shop around - customers shopping around using Gocompare.com can save up to £237.74 on their car insurance*.
  • Consider the cover that you actually need - can you limit your annual mileage or accept an increase to your policy excess?
  • Drive safely and keep to speed limits - the more convictions on your licence, the higher your premium is likely to be.
  • Secure your car for a better deal - a car alarm, immobiliser or tracker will potentially lower the quote that an insurance company will offer you.
  • Add a named driver - adding a driver with a clean licence and several years' claim-free driving to your policy could reduce your premium.

-ends-

Notes to editors:

On 9th August 2013, Vision Critical conducted an online survey among 2,000 randomly selected British adults who are Springboard UK panelists. The margin of error-which measures sampling variability-is +/- 2.2%. The results have been statistically weighted according to the most current education, age, gender and regional data to ensure samples representative of the entire adult population of United Kingdom. Discrepancies in or between totals are due to rounding.

*Based on online independent research by Consumer Intelligence during 01 July 3012 to 31 July 2013; 51% of consumers could achieve this saving with Gocompare.com car insurance.