Halifax Launches ‘Quote & Buy’ Car Insurance in Branches

April 14, 2003

Halifax has announced that it will become the first high street bank to offer a face-to-face ‘quote and buy’ service for car insurance in its branches. The service is designed to complement the company’s existing telephone and Internet channels where average savings for customers have been around £97.

The service will be available in all 670 Halifax branches in England and Wales and customers holding any Halifax product will be eligible for a 10 percent discount on their premium. Specially trained branch staff will be on hand to provide quotes in around five minutes and the entire sales process can be completed in just a few minutes more.

New research carried out by Halifax Car Insurance (HCI) shows that nearly 40 percent of people would prefer to buy car insurance face-to-face providing the price was the same as they could get over the phone or Internet. However, only 27% of people would prefer to use a high street broker (the traditional face-to-face route) to buy motor insurance, compared with 64% who would prefer to either buy directly from an insurance company or through their bank or building society.

Mike Pickard, underwriting manager for Halifax Car Insurance said:

“While many people still prefer buying face-to-face, it can be expensive if brokers are the only option. At the moment, customers switching to Halifax Car Insurance over the phone or Internet from brokers are, on average saving around £160.

“However, we know that not everybody is comfortable buying financial services over the phone or on the Internet and some simply prefer traditional channels. For those who want to buy face-to-face, this new service really can provide the best of both worlds – the service they want, combined with the fantastic prices that we can offer.

“On top of this, the service comes from a name people know they can trust and is sold by fully trained staff who will offer all the support needed in the process.”

The product is available to motorists in England and Wales aged 20-78 and includes features not available from all insurers such as free courtesy cars.

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