Multi car insurance quotes
Once upon a time, a famous supermarket chain liked to promote its products under the axiom “pile it high, sell it cheap”. It’s like that in retailing – you can offer two for one deals, or discount staple products to sell the slower lines. Generally, such strategies work and they are one reason why the retail sector is so competitive.
Car insurance companies are businesses like any other, and just like the retail sector, they have to compete for your custom.
Thus to truly compete in a free market, it makes sense to offer customers products that are designed for their needs.
Obviously, since the product of an insurance company is actually a sophisticated financial instrument, it doesn’t really sound feasible, or even possible to “pile it high and sell it cheap”, surely that’s just silly.
Or is it?
Well, given thought it ought surely be possible to ‘pile it’ – if not particularly high.
Administrating a single policy of car insurance carries an implicit cost, one that is consequently an overhead expense to the insurance company and one that is of necessity built into your overall quote (and therefore to the cost of your premium), which logically becomes one that you, the consumer must ultimately bear.
Now imagine the car insurance cover requirements of, say a family of five, all of whom are drivers and all of whom may actually own a car.
Where is the financial efficiency of administrating five policies, providing five separate quotes and possibly having the cover spread between five different companies?
Even at a cursory glance this doesn’t make sense. A canny insurance company would recognise that five people are likely to conduct five separate online car insurance comparisons and are thereby likely end up
taking their custom to five different companies.
And of course that same canny insurance company would realise that by offering an attractive enough discount, offset by the reduced administration costs, it could attract five new clients.
It should come as no surprise to learn that there a plenty of canny insurance companies out there, all online and all eager to attract your business. Welcome to the new world of multi car insurance quotes.
Multi car insurance quotes have ultimately become possible because of the advent of online car insurance comparison serving to make the concept viable. One major company offered a similar service back in the 1980s, it failed not because it didn’t work but because of the time consuming research needed to assess the risk, accredit a value to it and then underwrite it. Online commerce now gives the market the oxygen it needs – businesses call it ‘economy of scale’.
So are multi car insurance quotes the way forward for the customer?
Well, as always there are pitfalls and you should strive to make careful online comparisons, check the detail of the policy and the cover it provides and always continue to compare the multi car insurance quotes with the alternatives offered by separate and individual companies.
Important areas on which to focus attention are no claims discount liabilities, policy excess agreements and naturally expense. The renewal date is highly likely to be the same date annually and unless your affluence is such that you probably don’t need to explore multi car insurance quotes, then that is going to be a significantly large outlay. So you may need to consider monthly payments and if you do – remember to factor the interest you are likely to pay into the overall cost.
Online car insurance comparison is the new driving force. So the trick may well be to pile it high – and then buy it cheap.