No big bang for American Express car insurance, says analyst

Wed, 21 Jun 2006

American Express' (Amex) new car insurance policy hasn't created the "big bang expected for such a big brand", according to an expert.

Richard Mason, director of insuresupermarket states that the car insurance policy is not competitive on price.

However Mr Mason believes the car insurance policy does contain many features which could be attractive to consumers.

Customers looking for car insurance for new vehicles may be interested in the policy, as it offers a new car if the vehicle is stolen or written-off within the first year of purchase, asserts Mr Mason.

"Amex’s policy insures imported and classic cars and will also appeal to those sports car enthusiasts," he added.

"But for those looking to make maximum savings it will still make sense to shop around for the best deal on each vehicle individually."

Upon the launch of the car insurance policy, American Express officials stated that they believed that it would offer and "inclusive product", aimed at all motorists.

The deal also includes a five per cent reward for purchasing the car insurance policy online and a free courtesy car when the owner uses an approved repairer.

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