Industry News from Yes Insurance

Price is not the most important factor when buying comprehensive car insurance, one industry body has claimed.

According to the British Insurance Brokers' Association (Biba), an increasing number of motorists are looking at reducing the amount they spend on cover as the recession tightens its grip on the UK.

However, it warned cheap deals that seem tempting at first may not offer all the features customers expect.

The group also pointed out the excess rate on such policies can be high, meaning any savings made up front may be lost in the event of an accident.

Graeme Trudgill, technical and corporate affairs executive, offered advice to people looking for cover.

He said: "Really check if the policy is suitable for you.

"You might be able to cut back because you don't need foreign use, but you might really want the driving of other cars extension."

Biba is an organisation that represents the UK insurance industry.

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