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Are we moving too fast with allowing consumers to buy motor insurance online
Online motor insurance quotes have been around for quite some years now and the concept has taken off quite dramatically. So much so that many of the traditional motor insurance marketing resources have suffered. Telephone directories are one area that have been hit hard and TV advertising seems to have waned amidst the power of the web.
It was inevitable that that the next step for consumer satisfaction was going to come in the for of buying ones motor insurance online. This process rounds off the whole online experience from initial cost to sale.
The problem with this is quite significant in the fact for years now the Financial Services Authority (FSA) have been implementing many rules and regulations governing the fair treatment of the consumer and guidelines on how motor insurance and general insurance products can and should be sold.
Buying motor insurance online effectively takes us back to the middles ages by comparison because it is quite clear that giving the consumer effectively total control of the process is going to cause more headache in the long run.
There are already horror stories emerging of people who can't even get their own names right and given the current credit crunch and the squeeze on wallets it sounds inevitable that some unscrupulous motorists could take advantage of the buy motor insurance process buy not adding the correct details in order to cut costs.
Buying motor insurance online is still in its infancy but unfortunately it is possible it could turn out to be a costly upbringing