Car insurance news

Convenience fuels online car insurance

Recent research says sales of online car insurance will soar in 2005.

Online consumer buys of financial services are set to increase by 27 per cent on 2004's figures, according to research from NOP World Finance and Sainsbury's Bank. This means that the number of adults arranging online car insurance should also increase dramatically.

These findings come as Sainsbury's Bank itself reports a rise of more than 200 per cent in online visitors over the past 12 months.

This growth is being fuelled by the internet's convenience, according to the bank. The highest volume of users visit sainsburysbank.co.uk during lunch hour, between 1pm and 2pm. It shows that users find it much more convenient buy car insurance online than join the busy high-street queues.

Others preferred to organise their finances outside normal bank hours, between 5pm and 9pm, with six per cent choosing to log on in the small hours of 11.00pm to 6.00am.

Derek Bottom, deputy chief executive at Sainsbury's Bank, says: "As consumers lead busier lives, we are seeing an increasing number of people turning to the web to purchase financial services products."

According to NOP World Financial, the financial product most likely to be bought online is car insurance - 2004 figures show that more than 1.9m shoppers bought this on the web.

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