Tuesday, March 6, 2012

Car Insurance - Company Comparison for the UK

According to the Independent newspaper, UK households are spending an average of £1000 annually for car and home insurance. Despite the rising cost of car insurance, many insurance buyers are not researching the market thoroughly. If they do so they will be able to get a bargain auto insurance.
There could be many reasons for not researching the insurance market. It could be less time, lack of information, not asking the right queries and many people simply don't bother.
    Comparison of 3 popular Car Insurance Companies:

Norwich Union, More Than, Tesco Personal Finance.
More Than: Car Insurance
A financial brand of Royal Sun Alliance Insurance Group, More Than was launched in 2001. Its services include not only car insurance but also insurance in home, pet, travel and life.
Tesco Personal Finance: Car Insurance
Tesco Personal Finance provides services in finance and insurance. Insurance product range includes car, health, home, pet and life.
Norwich Union: Car Insurance
It is a subsidiary of AVIVA, worlds fifth largest and UK's biggest insurance groups. Norwich Union's insurance activities are monitored by Financial Services Authority.Features of these Car Insurance Companies
- Online Discount Offers: Of the three car insurance firms, More Than offers maximum online discount of 15%. Both Norwich Union and Tesco Personal Finance offer 10% online discount.
- Breakdown Cover: More Than: 50% off breakdown is added to car insurance quote, specifically for prospective customers. Norwich Union: Does not offer a flat rate for breakdown cover. It is calculated based on the insured's situation and £5 off is given for online breakdown cover.
- No Claims Bonus
More Than- Offers maximum no claims bonus for the life of your car insurance policy. This is offered to drivers with a good record, as a part of fully comprehensive car insurance policy. Driving conviction will make you ineligible for it.
- No Frills policy No Frills policy is offered by Norwich Union and Tesco personal finance. This does away with replacement car and personal injury cover and consequently reduces the cost of premium considerably.
- Pay as you go Pay as you go is the latest technology installed by Norwich Union and More Than in order to track down motorists' usage. An optional offer, this will help car owners to cut down on their insurance cost.
More Than- Targets young drivers between the ages of 17-25 and offers a bonus at the end of the year if they don't drive between the 11pm and 6 am.
Norwich Union- If motorists keep their car in the garage for six months, they will be charged less premium.
- Pay your premium in one go If you do not wish to pay a monthly premium, then Norwich Union gives you the option of paying your premium in one go.
All these offers are subject to availability so do check before hand with the company, when purchasing a car insurance policy.