BuyingAdvice.com: car buyers should do more car insurance research

11 September 2007 / by None
A new poll from automotive website BuyingAdvice.com shows that a majority of car buyers do not check how much the cost of their car insurance will change before choosing a new car.

Company spokesperson Pamela Sullivan, said: “From our findings we learn that, despite the advice of many leading consumer advocates, most car buyers are not checking insurance rates on their vehicle of choice prior to getting an online price quote and fewer still are getting multiple quotes on their car insurance.”

Not only are consumers apparently slack about shopping around for the best car insurance deals – according to a recent study from Sainsbury’s Car Insurance – 56 per cent of respondents of the BuyingAdvice.com survey said they were unaware of the insurance cost for the car they were thinking of purchasing.

This is a worryingly high number, as insurance rates can be greatly impacted by the year, model, repair cost and theft rate of the chosen car.

Just 39 per cent of participants said that insurance cost was “very” important when buying a new car, while 34 percent said the cost was “somewhat” important.

The company found that when deciding on a new car insurance policy, 59 per cent of respondents seek multiple quotes. However, it is highly advisable that all prospective buyers compare deals seeing as the policy prices can vary by hundreds of pounds.

Surprisingly, only 13 per cent buy car insurance online, despite the many discount offers exclusively available on the internet.

“While new vehicle buyers are turning to the web to get competitive price quotes on vehicles in increasing numbers, they are much slower to change their approach to buying insurance,” said Ms Sullivan.

Find out more about comparing car insurance and online car insurance