A large number of U.K. drivers are purchasing auto insurance policies online and are quite comfortable doing so. According to a survey of 2,030 drivers, 42% say that they know more about the features and excesses of their policies now they buy it online than when they used to telephone insurers for quotes or go to local brokers. Less than 1 in 10 (8.5%) of the Gocompare.com survey respondents said they knew more about their policy when they used to arrange it over the phone and just 1 in 20 (5.5%) felt better informed when they bought it through a broker. Eleven percent of respondents have only ever bought their car insurance online.
Brits aren’t the only ones taking to the Web. For the first time, a majority of new U.S. buyers of auto insurance initiated their policy purchase by applying for a rate quote online, according to a new study by J.D. Power and Associates (http://www.jdpower.com/). However, unlike the Gocompare.com study, the J.D. Power and Associates study found that while 54% of insurance shoppers now report getting their quotes online, the agent channel remains vital to closing sales.
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