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Insurance customers told to shop around
27 August 2008
Shopping around can be the best way to cut the cost of your insurance premiums, the Association of British Insurers (ABI) has claimed.
According to Malcolm Tarling, spokesperson for the ABI, insurance premiums are expected to rise because of the credit crunch but the market is still competitive so customers can still get a good price by taking the time to compare insurance deals.
"If one insurer has to put their premiums up, which is an action that no insurer wants to do, it doesn't mean to say that every insurer will follow suit," he said.
Mr Tarling advises customers not to buy a premium purely on its price as it is essential to have a policy that has the appropriate terms and conditions.
"Make sure you shop around and find a policy that actually has the cover you want. Don't just buy a policy on price," he added.
The AA British Insurance Premium Index also shows an upward trend in insurance premiums.
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