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.
Category: Car Insurance News, Insurance News
Comments (1)
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It might be very good at the function of online comparison of rates, but MoneySupermarket obviously doesn’t understand Insurance!
Female car insurance isn’t specialist. It’s just standard cover wrapped up with a few girlie add ons for targetted marketing purposes. The rates for females are always less because the claims are less.
Specialist car insurance is a policy designed for a particular sub sector of the market such as Kit Car Insurance. These policies are usually sold to the target market as a scheme, which is more often underwritten by Lloyds syndicates. The schemes attract bulk buying rates and offer covers not available under standard policies – whatever your gender!