Supermarket banks 'can offer insurance choices'

Posted :10-08-2007

Supermarket banks that offer insurance products can be effective in providing more choice for consumers, it has been suggested.

M&S Money spokesperson Liz Neild said supermarkets can often be more convenient for those who need to purchase products such as home insurance as it may provide a different relationship than that of a high street bank.

People are now given enough options to decide what they want their financial providers to do, she added.

"I think it is about choice … they have a different brand relationship with their bank. But they might go to a favourite retailer for something else," Ms Neild explained.

Supermarkets now enable customers to purchase various types of insurance in-store and online.

People may also find that shopping around via the internet can help them to find cheaper quotes.


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