Cheap car insurance news
07/05/2008
Car cover more competitive than mortgage market
Choices in car insurance are plentiful so industry experts do not expect availability problems that the current UK mortgage market is experiencing.
BIBA, the British Insurance Brokers' Association, represents intermediaries, customers and insurance brokers and claims to be this country's leading general insurance organisation.
In fact, motor cover is so competitive, BIBA is reported to have said that affordability and availability are not issues at all at the moment.
To deal with current financial problems besetting households - and the economy generally - BIBA is asking insurance consumers to consider instalments and shorter-period cover.
Corporate affairs spokesman, Graeme Trudghill, said with available cover so varied there is always an insurance option for any motorist.
BIBA state that the car insurance business has made an underwriting loss nine out of the last 10 years.
The BIBA statement comes after mortgage availability - and also uncompetitiveness - has emerged as a major problem for people wanting to buy homes.
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