Car loan customers look for low cost insurance

A recent report has shown that car loan customers are most likely to rate price as the most important thing when searching for car insurance. There are a host of other features to consider when purchasing car insurance, but a low price consistently came out as the top priority. Data released by the Fair Investment Company has found that more than 57 per cent of motorists, including car loans customers, believe a low price is the most important factor when it comes to acquiring insurance. The Fair investment Company collated this information by asking motorists what factors they considered to be important when shopping for car insurance. As well as low price, motorists and car loan customers specified availability of courtesy cars and the lack of overseas call centres. The findings of this research have provoked some alarm amongst industry experts, as there are many variations within insurance policies, and acquiring the appropriate insurance is dependent on more than just price. Fair Investment director James Caldwell said: "I would advise anybody shopping for car insurance to compare deals not just on price but also policy features."

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