Cost is the main reason for choosing one insurance company over another for three-quarters of UK drivers.
There's no better feeling than scouring the best new car offers and finding a motor that you not only love the look of, but also its price. With the economic uncertainty of the last few years still hanging in the air, we're all on the lookout for the best deals in almost all aspects of our lives.
And while the cost of a new motor is the main consideration, you also have to take into account the various other outlays that are involved – one of which is insurance.
It therefore comes as little surprise to find that new research has shown cost to be the main driver behind why a person will choose one car insurance policy over another. Commissioned by Gocompare, the study revealed price is the reason given by 75 per cent of survey respondents when asked why they would opt for a car insurance provider.
This scored markedly higher than other considerations such as quality of cover (51 per cent), insurer's reputation (33 per cent) and trust that the insurer will pay out if a claim has to be made (32 per cent).
Scott Kelly, head of car insurance at Gocompare, said: "For many drivers insurance represents a significant part of the cost of running a car, so it is no surprise that cost is an important consideration in choosing an insurance policy."
Other factors drivers take into consideration is whether or not they are able to pay what they owe in monthly instalments and whether or not they could get a good deal.
Also, some people will go with a car insurance provider if they are recommended to them by a friend or member of their family, while others opt for a specialist provider – such as those catering for women, older or younger drivers and those offering deals for classic or sports cars.
If you're in the market for car insurance, it may pay to think about various factors – cost is important, but it isn't the be all and end all – when making your final decision.
Posted by George Davis