Act now for cheap car insurance, expert states

Fri, 27 Feb 2009

Now could be the time to find a cheap car insurance deal, according to one expert.

Simon Douglas, director of AA car insurance, explained that the first quarter of the year sees a lot of renewals and this means that bargains are on offer.

"There's more new business and renewals during the first quarter than at any other time of year so insurers tend to discount premiums in order to gain market share," the car insurance expert said.

Car insurance firms will increase competition during this time, which will keep the cost of premiums in check, he added.

However, after this brief lull, the cost of car insurance will go up for the rest of the year, Mr Douglas warned.

Yesterday, Haley Parsons, chief executive officer of Gocompare.com, advised people to shop around for their car insurance in order to make sure they get the best possible deal.

Those who opt of their renewal quote will end up paying over the odds for their car insurance, she stated.
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