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Is buying car insurance online really a good idea?

The medium of the web is arguably one of the finest platforms ever conceived for selling car insurance. And here’s why.

Firstly, it’s available 24 x 7 - there’s no need to take precious time out of the working day to call a car insurance company during office hours, or rush home before call centres close at 8 pm . The convenience alone is probably sufficient to convince most people of the argument.

Secondly, the process of arranging car insurance lends itself to web automation. Car insurance is obtained by answering a set of questions and providing standard details. This data is then matched to pre-existing criteria to arrive at a quote. All standard fare for your average database.

It’s also safe and secure. With data to and from the user and web site being subject to 128-bit industrial strength encryption, it’s unlikely user information or credit card details will be intercepted in transit. Indeed, when you think about it, it’s probably safer than phoning over credit card details. For aren’t you talking to a complete stranger who then repeats your credit card number back to you..?

In the best case scenario you can be done and dusted with your car insurance application in a matter of minutes and all without having to listen to ‘on hold’ music or to strain over an unfamiliar accent on the other end of the phone.

And it’s a winning combo, too, for the car insurance companies. Cost per sale is reduced when business is conducted online, making the insurers even more competitive. Industry analysts confirm that selling motor insurance on the web has been cheaper than the cost of telephone sales for around two years now, a fact not lost on the online car insurers most of whom now offer discounts of between five and ten per cent simply for buying online.

And the trend for shopping online for car insurance shows no signs of diminishing. Recent research by one of the UK ’s top motoring organisations revealed that over three quarters of car and home insurance customers use the web to compare prices. Such is the popularity of online car insurance that about 40 per cent of all new car insurance is arranged on the web. In 2004, the research stated, online sales of car insurance soared by over 60 per cent.

The upshot of the terrific growth in online car insurance is better deals for motorists. With greater access to more insurance companies and the unprecedented ability to compare quotes, the outcome has been the ability of the consumer to keep car insurance companies on their toes by demanding competitive premiums.

Getting car insurance on the web is here to stay. No mistake.