Car insurance news

Report suggests motor insurance quotes will stay competitive

There is excellent news for drivers who are concerned about not being able to get a cheap motor insurance quote because of the expected rise in prices.

Defaqto, a research company, has been looking at the UK car insurance market and has issued a reassurance to motorists, saying that there would still be low cost motor insurance quotes due to the level of competition in the industry.

Defaqto's report "Motor Insurance in the UK - Adapting to Survive" said that it would be "almost impossible" for a car insurance company to raise the price of their motor insurance quotes and not lose business.

This is good news for consumers, many of whom have been worried since Norwich Union's announcement that they would be putting up the cost of car insurance substantially, by as much as 40% in some cases.

Brian Brown, author of the report, explained the importance of the online motor insurance market: "With the internet, it is now so easy for customers to shop around and so many insurers are still giving introductory discounts, cash-backs or guarantees to beat other quotes, that there is little, if any, need for customers to stick with their existing insurer when faced with premium increases."

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