A survey conducted by insurance brokers Only Insurance, has found that a majority of Brit’s found their car insurance by using the Internet.

Nearly 75% who took part in the study said that they only used the Internet to find their car insurer. Around 15% of respondents said they used a combination of the Internet and telephone while remaining found ther insurer through an advert, a recommendation or a local insurer.

Ian Durrell, head of business development at Only Insurance remarked:

“It comes as no surprise to us that consumers are using the internet more and more to compare prices across the board not just with insurance.  The fact that car insurance is mandatory has helped in grabbing the attention of would be purchasers.  The internet is clearly the number one destination for people buying car insurance today and as broadband connections, in even remote areas of the UK, are continuously rising then the outlook for more traditional ways of arranging insurance looks bleak.”

The insurance industry has changed dramatically over the last few years as the growth of people using the Internet to find all matter of insurance policies has become the norm. Online insurance is especially popular among the younger generation and the trend towards comparison websites can only be set to continue in the future. As a result, it’s safe to predict that the Grim Reaper will be paying a visit to the rapidly diminishing traditional face-to-face car insurance brokers.

The survey also revealed that price is the number one criteria for people buying car insurance. About 90% of participants said that they looked for the cheapest car insurance they could get with around 5% saying they just renewed their insurance for an easy life. 4 said they bought their car insurance after being recommended by a friend while only 1% said they sought out an insurer with a well known name.

“What this research does show should come as no surprise and that is that price is the overwhelming factor for most people (90%) when they are buying car insurance for most people. Consumers are also quite savvy and are not inclined to just renew their insurance automatically or be swayed by a well known name or recommendation as they used to.  Insurance is seen by most as a commodity product so price is the main factor when selecting insurance especially for younger drivers,” said Durrell