The rising running costs accompanying car ownership has been an increasing area of concern for many years now. This is not only due to rising fuel prices, but also because of car insurance premiums which have risen spectacularly on the back of the credit crunch.
However, one UK based company is aiming to help motorists overcome these increasing premiums with the launch of a car insurance comparison app which is available to all iPhone, iPad, iPod Touch and android phone owners; allowing customers to compare car insurance quotes available through over 100 different insurers in a matter of minutes.
The app explained
MoneySupermarket has become the first company to make a car insurance comparison app available; taking advantage of the growing mobile market.
Users must first create a MoneySupermarket user account upon downloading the app which will require the entry of personal information such as the driver’s age and occupation; in other words any piece of information which will ultimately have an impact on car insurance premiums.
This is a slightly time consuming process, but well worth it in the long run as you will not be required to enter this information afresh every single time you are in need of a new quote; meaning that customers can simply log-in on subsequent occasions.
Customers will then be asked to enter the vehicle registration plate number of the car they are looking to insure themselves on and the app will automatically retrieve the information about the vehicle which is required in order car insurance premiums to be calculated. This data is sourced from the database which is held by the UK motoring legislator, the DVLA (Driver and Vehicle Licencing Authority).
The app will then return car insurance quotes available to the user through over 100 different car insurance companies; giving the customer a far greater chance of finding the cheapest deal available to them.
The beginning of a revolution?
In reality the app simply mimics the capabilities of the company’s’ own website, but obviously offers it in a portable format. This takes advantage of the growing app marketing which is set to be worth $25 billion by 2015 according to a report by the World Mobile Applications Market.
The company has not ruled out utilising a similar app based platform for other areas which it covers including home and travel insurance, as well as holidays.
Where is it available?
At the moment the app is currently only usable for motorists based in the UK as this is the limit of the company’s reach. However, MoneySupermarket says it is expecting other price comparison websites to follow its lead in the near future.
This could result in comparison companies based in other countries launching similar products for its respective markets. Keep your eyes peeled, because it seems that the mobile revolution in the insurance market is just beginning.