Consumers turning to the web for home insurance

 

Consumers are turning to the internet in order to find the best deals for their home insurance.

 

Research by Sainsbury's Bank concluded that there is a growing trend for buying financial services products online and reported that the number of hits on its website has increased by more than 208 per cent over the past year - partly due to a rise in broadband users.

In addition, AA Insurance has revealed that three out of every four people now use the internet to research the purchase of home and car insurance cover.

 

"Even those who do not have access to a computer often ask computer-literate friends or family to do the searching for them, but complete the deal offline," explained David Tyers, AA Insurance's head of marketing.

 

He added: "About a fifth of home cover is now arranged online."

 

It is also likely that the online financial market will benefit from new rules coming into force this year, which will allow people to apply for products on the internet without needing to sign and return paper copies of agreements.