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Car Insurance Premiums Shift

Added - 29/06/2007

Since the introduction of the direct insurer business model back in the eighties with the mighty Direct Line there has been a general consensus on figures that has shown the average car insurance premiums from them to be lower than the competition in the intermediary market.

Despite having bespoke discounts and delegated schemes the personal lines brokers and intermediaries have generally proved themselves on average more expensive for their car insurance premiums than direct insurers. During the period 2006 to 2007 this position has started to shift as the industry undertakes significant changes in customer activity.

The transparent exposure of multiple market rates has enabled the consumer to see far more of the market competition than ever before and as the price comparison market place continues to grow the opportunity of choice just keeps increasing. Having car insurance premiums exposed in such a manner has of course sparked a natural progression of competition for providers to expose their cheapest rates.

To achieve this the brokers and insurance intermediaries are having to slash car insurance premiums to the bone, even reducing their fees in some cases to nothing to attract potential enquiries. The mood within the insurance community is somewhat mixed with many seeing the new wave of price comparison middlemen as direct threats to the whole structure and stability of the traditional sales process.

Others who find themselves on the insurance aggregators panels are riding the wave of opportunity whilst it exists. Which ever view you might want to take the simple truth is that price comparison companies have altered the the mould and car insurance premiums are being dramatically being lowered and now the direct insurance providers are finding themselves a more expensive option for many wannabe insurance customers.

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