Specialist insurers not always best

03 October 2006
Price comparison website Moneysupermarket.com has warned consumers that specialist insurers will not always be the best deals around for their particular demographic.

Even companies that cater specifically for groups such as women or younger drivers may cost as much as 25 per cent more than several high street names.

In addition, older drivers would do well to compare the price of insurance for them, rather than automatically opting for cover from a self-proclaimed 'specialist' as better deals may also be available for them elsewhere.

"Specialist insurers, such as Diamond and Sheilas' Wheels, which launched almost a year ago, have promoted themselves heavily to women as the value alternative, catering specifically for their needs," said Richard Mason, director of insurance at Moneysupermarket.com.

"But our research clearly shows it pays to shop around for premiums across the whole of market. While these insurers may sometimes come up trumps for women, chances are they will be beaten on premiums by the bigger, better known brands."

Mr Mason noted that extras that come in standard cover, such as handbag insurance from a female-only insurance group, may not be of any actual benefit for everyone in the specific demographic and consumers should decide whether these extras are worth the extra amounts on the premium.

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