UK Car Insurance Premiums Drop in Late 2007
In a recent report released by data and credit information company Experian, it is reported that in the United Kingdom the cost of complete-coverage car insurance (more than just the legal minimum, essentially full-coverage) have dropped considerably in the final quarter of 2007.
It is believed, get this, that the major reason for the ubiquitous price drops is the increase in consumers shopping for car insurance online. Now the online shoppers are driving competition to lower prices! If you’re a proponent of capitalism, this is consumer-driven competition at it’s finest. If you’re a regular reader here, you know that I often write about how you should always comparison shop online for anything that costs much at all. Even when you go to make purchases at brick ‘n mortar shops, I always suggest reading reviews and finding the best price online.
So why shouldn’t that apply when you go to shop for car insurance? You should get the best deal for your money, because that’s how a free market works. So keep on shopping online, UK shoppers (and American shoppers, too!) – you are driving a whole new economy and forcing companies into competition, and that’s always good for you.