There are many providers of motor insurance here in the UK but who is the brand leader and how important is it to have such status?
Well, according to research by Consumer Intelligence, the UK’s top 5 car insurance brands are: –
1. Direct Line
Many of you will have heard of Direct Line but they do not appear on price comparison websites. This is because they choose not to unlike a large percentage of insurers.
So, how can they be so successful? Well, Direct Line has been in existence for many years so it has become well known. One of the reasons why it is viewed by many consumers as the number one brand for motor insurance is possibly due to the extensive marketing campaign it undertakes on the likes of the TV. This undoubtedly attracts many motorists to obtain car insurance quotes from Direct Line.
Apparently, around 16% of motor insurance policyholders do not shop around for alternative cover when their policy is coming up for renewal therefore deciding to remain with their existing insurer and 27% of those people made this decision in the main because they were pleased with their existing brand provider.
It is difficult to assess how important it is to have number 1 status as brand leader but it presumably helps generate increased business for the insurance company both by way of retaining some of its customer base as well as taking on new clients.
However, whilst there are obviously some motorists who will choose a brand leader because they are so well known, there are other drivers who will choose a particular insurer based upon price and/or the benefits of the policy.
Of course another option is to obtain a number of quotes through a price comparison website and also obtain quotes from a number of insurance companies who do not use such websites such as Direct Line. When doing so, make sure that you are comparing like for like in respect of the likes of the level of cover and the options included automatically and any optional extras. You should also consider reviewing your car insurance premiums on an annual basis to make sure that you are still obtaining a competitive price for your cover.