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Don't let direct debits undermine motor insurance deals

Tue, 06 Sep 2005

Britons could be wasting millions of pound by continuing to pay for unwanted services, but paying for Car Insurance cover by direct cover could prove worthwhile.

A survey conducted by Portman Building Society shows that the number of people using direct debit to pay for services and products has increased significantly over the past decade, with 75 per cent of people making at least one direct debit payment.

However, many consumers believe that using direct debit to pay could be increasing the number of bad value products they buy, even though discounts can often be made by agreeing to a monthly payment commitment.

In particular, magazine subscriptions are viewed as the worst purchases, with 40 per cent of consumers unhappy with paying each month, whilst 35 per cent regret committing to their gym membership.

"We would encourage Britons to think twice before signing up to a service or product you may regret a few months later. The best value direct debit would be one that goes directly into a savings account, "said Helen Shaw, Portman Building Society

However, consumers are being urged not to give up on direct debits all together as they often allow for costs of essential such as Motor Insurance to be spread over the year.


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Endsleigh Insurance Services Limited is authorised and regulated by the Financial Services Authority. This can be checked on the FSA Register by visiting its web site at www.fsa.gov.uk/register.
Endsleigh Insurance Services Limited. Company No: 856706 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.