Consumers urged to seek savings in competitive UK market

Posted : 11-04-2005

The insurance price war is heating up, providing consumers with increased choice and cheaper premiums.

Barclays is the latest company to enter the highly competitive general insurance market, offering home, motor and travel insurance policies to consumers.

The high-street bank claims consumers could save an average of £200 a year by purchasing insurance with them, a move which is likely to encourage other brokers to review the price and contents of their cover.

"We intend to give customers more reasons to buy general insurance from us than any other provider by delivering a winning combination of highly competitive prices, comprehensive coverage and service guarantees," said Adrian Grace, managing director of Barclays Insurance.

A competitive market and the rise of internet insurance brokers is highly beneficial to consumers, especially as they can often make increased savings by purchasing cover online.

Mr Grace reiterated the call for consumers to shop around for their insurance to ensure they receive the best insurance deals possible.

"Consumers need to shop around for the best deal on their insurance and should double check the price of their policy on renewal to ensure they are still receiving the competitive deal they first thought," he said.

According to research by Sainsbury's Car Insurance the average motorist could save a massive 32 per cent on the annual price of their policy by shopping around for cover.

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