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Specialist insurers 'not always best value'

Consumers have been advised not to automatically assume that a specialist firm will provide the best deal on their motor insurance.

Research by moneysupermarket.com found that companies with products designed specifically for older drivers or female motorists often fail to offer the cheapest premiums when compared to general insurers.

The survey discovered that the yearly cost of cover from a traditional provider could in some cases be 30 per cent cheaper than a specialist firm.

In addition, the price comparison website suggested that specialist providers sometimes tempt customers with free gifts or "extras", when they could be getting a better deal elsewhere.

Director of insurance at moneysupermarket.com Richard Mason said: "It pays to shop around for premiums across the whole of the market.

"Elderly motorists shouldn't rely on specialist insurers - it definitely pays to scour all of the market for the best cover for your needs."

Recent research by TescoCompare.com found that 11 per cent of UK car owners have stayed with the same insurance provider for ten years or more. A personal loan can help with insurance costs.

See how much you could borrow with a motor loan from Lombard Direct.
© Adfero Ltd

28/11/2007 14:29:06

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