The research into factors influencing motorists' choice of car insurance policies, commissioned by Gocompare.com, revealed that in addition to the price of the policy, drivers were concerned about the level of cover on offer and the insurer's reputation, particularly in the relation to paying out for claims.
Reason for choosing car insurance provider:
1 - 75% said cost
2 - 51% said quality of cover
3 - 33% said insurer's reputation
4 - 32% said "I trust the insurer to pay out if I need to claim"
5 - 28% said the ability to pay in monthly installments
6 - 21% said "if I get a good deal (e.g. 11 months cover for the price of 12, second vehicle discount, free gift)"
7 - 12% said recommended by friends and family
8 - 5% said specialist provider (older/younger/ women drivers, sports/classic cars)
9 - 4% said recommended by an insurance broker
10 - 2% said "I like their advertising!"
Scott Kelly, head of car insurance at Gocompare.com, commented:
"For many drivers insurance represents a significant part of the cost of running a car, so it is no surprise that cost is an important consideration in choosing an insurance policy.
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However, we would suggest drivers not pick a policy based on price alone, but to also think about the level of cover they need.
A number of insurers include additional features, such as a courtesy car, breakdown cover or legal assistance as standard, but some insurers offer these as optional extras.
So before signing up to a policy you need to think about the level of cover you need and whether you could buy it cheaper elsewhere. For example, breakdown cover is frequently offered as an additional extra with car insurance, but may be cheaper bought as a separate, standalone policy.
"Our research found that for some people special offers or the ability to spread the cost of their insurance by paying in installments are important factors when buying insurance. But motorists should consider the full cost of what they are being offered, bearing in mind that many insurers charge a fee for paying monthly."
