According to Which? Money’s own research, seven-in-ten car insurance providers
impose administration charges on policyholders for making small changes to their policies.
YourCover insurance, the recently launched online motor insurer, is one provider who does not
make a charge and also has a very competitive APR for policyholders wishing to pay by
Extensive customer research carried out by YourCover insurance even before its launch
revealed that consumers expect to be able to make changes to their policy without incurring
administration charges imposed by their insurance provider. YourCover insurance listened and
• Does not charge for changes made during the term of the policy
Using information provided by the independent financial research company, Defaqto, YourCover insurance can report that across a basket of well known motor insurance brands, the average adjustment fee charged to policyholders for making even the simplest of changes to a policy is £19.00! This rises to as high as £35.00 with one well known direct insurance brand.
In addition to a ‘no admin charge’ promise, YourCover insurance also has one of the lowest APR’s for customers choosing to pay their premium by instalments. YourCover insurance charges a typical APR of 16.8%. Again, using the same Defaqto research, the average across other leading providers was 24.0%, rising to as much as 29.5% with one leading insurance company brand.
Neil Brettel, Director, Speciality and Direct said:
“In these difficult financial times, customers don’t just want competitive premiums, they also don’t want to pay for making simple changes to their policies. Often, customers circumstances change and we don’t make any charge for mid - term adjustments. Additionally, our typical APR for paying your premium by instalments is one of the lowest in the market place.”
1. Launched earlier this month, YourCover insurance is a new breed of insurance product offering you cover that you can select yourself to match your own lifestyle and circumstances. With our easy ‘Quote and Buy’ website, YourCover insurance makes it simple to obtain a quote and manage your car insurance online.
YourCover insurance is the end result of more than two years customer research involving thousands of insurance buyers.
2. Your Cover quotes are available online at www.YourCoverinsurance.co.uk.
3. Defaqto is an independent financial research company specialising in rating, comparing and analysing financial products.
Since 1994, Defaqto has built the largest, whole of market, financial product database and become one of the leading providers of financial product data in the UK. Defaqto now covers over 30,000 products across banking, life, pensions, investments and general insurance.
Defaqto’s experts validate and analyse the data to provide insight and consultancy to all layers of the financial services sector including IFAs, mortgage and general insurance brokers, providers, web aggregators and the public sector.
4. For further information contact:
Mark Bishop, Group Communications Manager, Allianz Insurance plc
Tel: 01483 552731
Mobile: 0779 2567449
This press release was distributed by ResponseSource Press Release Wire on behalf of Allianz in the following categories: Motoring, for more information visit https://pressreleasewire.responsesource.com/about.