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Daily Insurance Industry News
Sunday 21st of January 2018
January 21, 2009

Specialist car insurance comes with specialist premiums

by Gill Montia

Story link: Specialist car insurance comes with specialist premiums

Moneysupermarket.com has published the results of a study on car insurance which suggests that companies with a specialist bent, such as those offering cover for female or elderly drivers, do not always provide the best premiums.

The price comparison website found that such brands often offer extras, such as handbag cover and female-friendly garages, which may be of interest to their chosen client group.

However, in terms of best-value, premiums can leave something to be desired.

According to Moneysupermarket, a 30-year-old woman driving a Ford Focus with a female-only insurance brand could pay an average of £622 for their annual cover, 60% more than the average price for non-specialist cover.

A 60-year-old male driving the same make and model would pay an average premium of £431 with a specialist insurer, compared to an average of £234 with mainstream providers.

The firm’s spokesman, Andy Leadbetter, recommends drivers should weigh-up whether the extras provided by specialists insurers are worth the additional outlay, and shop around.

 

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