The biggest thing to happen to the car insurance industry is, arguably, is the emergence of a number of price comparison sites. This development, complemented by increasingly improving technology, means car drivers have no excuse, whatsoever, not to take advantage of and do a proper research on the policy that would suit their needs best. Here, also, the essential things are price and quality of products.
For a number of reasons car insurance premiums have been steadily on the rise. Among these, as had been explained times without number, are the ever rising costs of claims, the current credit crunch and the corresponding rise in the costs of other essentials. In spite of the rise, insurance companies still claim they are hardly making any profit.
Greener motoring, cheaper premiums?
One way motorists have been told to they could beat down the premiums was by trying the green device. By being an increasingly greener drivers, they were told, they could save on fuelling costs and help promote a healthier environment.
In a bid to encourage green motoring insurers have also offered various incentives to drivers. In the last one year we have seen green insurance offers of various degrees flooding the market in order to entice motorists and help to save on costs.
Giving a huge boost to the green campaign momentum the British Insurance Brokers??? Association this week confirmed that an incentive for drivers who adhere to call for environmentally friendly motoring will be the lowering of their premiums. Biba???s position directly gives a lie to the earlier statement credited to one insurance firm that green drivers would, rather than get a reward, be penalised with a 150 per cent hike in their premiums. This position was almost sending the wrong signalled, including confusion, to motorists when Biba???s interjection cleared the air.
Shopping around to compare prices
Now the big issue is how do drivers take advantage of green car insurance offers from insurers?
The problem is that many drivers may not be doing much to help themselves in terms of saving on premiums by shopping around. Shopping around is made a lot easier as there are facilities that could be accessed online (via the internet), on mobile phones or by simply picking the phone and calling price comparison sites to get quotes. The telephone option is further simplified by the availability of free call numbers that would make it easier for callers.
However, does shopping around help in make the premiums cheaper? The answer most experts would give is yes it does, in most cases. This is because one is comparing the prices offered by different insurers on the same or a number of related products. One is also considering which best serves the purpose. While sometimes the best product for one may not be the cheapest, the reality is that at least one objective is achieved: getting value for one???s money. And in some cases customers who do their research on price and quality properly could end up with both.
The lessons to learn is that even where there are offers what works well very often is when customers compares all the advantages and disadvantages of the offer vis-?'-vis other products, providers and their prices. And the best way to do is by shopping around.
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