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Benefits still available on cheap insurance policies

Such is the healthy competitive state of the car and home insurance markets at present, that inexpensive policies can be found containing benefits for the holder, one industry figure has claimed.Head of research at moneysupermarket, Peter Gerrard, has highlighted the end of the big companies' domination, with insurers vying to offer the customer the best deals and recommended scouring the market for suitable policies.He said: "They are having to be more reactive and more competitive and bring their premiums down, and the result is increased competition. So what might be a really cheap policy may still offer some really good benefits."According to a study by the AA, the average premium for combined buildings and contents cover has fallen by £4 to £293, while the average quoted premium for buildings cover remained at about £209.The average annual premium quoted for comprehensive car insurance recorded a drop, currently standing at £682.

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