Car Insuranse Gearing Up To Drive Down Costs
ADDED
05-28-2007
Finances finally seem to be going in the right direction for UK motorists. Esure has announced plans to double their share of UK’s market. This move will probably start a pricing war with insurers passing on the savings to the consumer. This is possible because internet only insurers do not have a lot of overhead. Norwich Union is also stirring up a lot of interest with their new pay-as-you go idea.
The pay-as-you-go idea is based on the actual usage of the car. A small box which is fitted into the driver’s boot records the time and actual uses. This box relays information to the insurer based on driver usage. This box can actually show mileage, the day of the week, and the time of day the car is driven.
For people who do not use their car very much this could prove to be a big savings. People who have high mileage usage need to shop around for the best rates since this can significantly increase their savings. Internet sites allow consumers to compare rates and find the best available deal.
With the government continually trying to find ways to make motorists pay more money it is a welcome sign that insuranse companies are trying to help motorists save money on the cost of their insuranse premiums. |
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