The Research Department uses data from its Aequos database to analyse direct private car and home contents insurance, and packaged products for restaurants
Direct comprehensive motor cover
Eagle Star replaced its comprehensive private car policy in May with two new variants - Gold and Silver. Both offer comprehensive cover, but with significantly different levels of benefits. We looked at how these new products are positioned in the direct motor market.
The Gold cover policy offers all of the usual benefits associated with a comprehensive policy, including:
Despite these features the Gold policy still falls behind two other products - NFU Mutual and Cornhill Direct. Drawbacks of the policy are the relatively high fee for direct debits (8% of premium), and non-payment of customs duty on damaged cars not repatriated.
The Silver policy strips out almost all elements of cover. There is no new-for-old car cover, only £100 of audio cover, no cover for personal belongings, medical expenses, lock replacement, personal accident, or hotel expenses. It is clearly targeted at the lower end of the market, for those who want the lowest comprehensive premium.
Direct home contents insurance
This month we looked at the contents policies on offer from the leading direct writers. There have been few major changes by the brand names in this market in recent months.
Since its launch last year Bluesure's product remains a clear leader in terms of cover, with Churchill still trailing the pack. Non-traditional insurers such as Halifax Direct and Halifax part-owned Esure both offer products which are well positioned in the market. Key features of the Bluesure product include:
The packages market is one which does not see rapid change. We looked at policies available for restaurateurs. Looking at the 20 features analysed there is little difference between the leading two or three insurers. But across the market there are a wide range of different covers on offer.
The Enterprise policy on offer from Royal & SunAlliance (R&SA) via its call centres offers the widest range of cover, with NIG and Avon not far behind.
Key features of the R&SA policy include:
Source: Aequos - for details: www.trd.co.uk , freephone 0808 1000804