(PRWEB) June 10, 2011
In the face of stepping up motoring costs, Sainsbury's Finance is rising a new automobile gift that will see Sainsbury's shoppers able to save on their automobile insurance premiums together with saving on their Sainsbury's selling and petrol. The new automobile insurance products, directed to help motorists plunge into their running costs, will see customers with a Nectar card take a bonus of up to 15% on their premiums, and the chance to consequence twice Nectar points on their selling for two years - homogeneous to an extra 1% off their bills. For those continually spending £100 a week, the additional saving could be as ample as £52 a year that is homogeneous to 6.4% of the median automobile insurance premium(2).
There are two options of Sainsbury's Car Insurance cover, a typical policy, and a Premier product that offers extended features such as a similar to for similar to courtesy(3) automobile is to generation of any repairs - something that usually 1.9% of policies in the marketplace offer(4). Both products offer a few of the widest operation of casing and benefits existing in the marketplace.
The supermarket bank's investigate reveals that the median annual cost of running a automobile has increased by around 21.1% given April final year(1). The key factors at the back this way up are an enlarge of 30.7% to median automobile insurance premiums given April 2010(5), and a typical way up in fuel expenses of 22.9% over the same period. The median automobile owners is right away spending around £1,720.69 per year to fuel their vehicle(6) . These alone accounted for £511.93 in additional expenses to the typical motorist.
Ben Tyte, Head of Motor Insurance, Sainsbury's Finance said: "The family automobile is key to many of us, and with the majority of us feeling the splash when it comes to running them, we're gay to be able to offer the Sainsbury's shopper the chance to keep the cost of motoring down with a really popular bonus on their automobile insurance premiums and the skill to save allowance on their selling in store and moreover their fuel."
Sainsbury's Finance research(7) found that just 18% of motorists will not ponder switching their automobile insurance, obtaining no serve automobile insurance quotes at their next renewal. However 2.29 million motorists will get hold of over 5 quotes themselves and 51.2% of motorists will in addition use allowance aggregator sites. One in 3 (34%) motorists intend to get hold of more quotes than the final time they insured their cars, and usually 3% say they will take less.
Overall, the commentary exhibit that 30.1 million motorists will try and get hold of a improved insurance cite for their automobile at their next renewal. With so many motorists seeking to find cheaper automobile insurance premiums and switch insurer over the next 12 months this creates it an preferred time is to supermarket bank to launch its new automobile insurance offering.
Ben Tyte continued: "We think the high quality and aberration of our automobile insurance tender will infer popular with the Sainsbury's shopper as they see the extra savings they can make on their premiums but moreover their weekly shop.
"We chose RBS Insurance as our new provider of engine insurance due to their in-depth marketplace knowledge and perfect extent and scale of expertise. They demonstrated a actual bargain of our customers that enabled us to develop a bespoke automobile insurance offer especially written is to Sainsbury's shopper."
As well as gift aggressive premiums, both policies offer a thorough operation of benefits and cover. For example, the two new Sainsbury's Car Insurance policies capacitate all declared drivers to consequence their own no-claims discounts, that usually 15.9% of policies allow(4). Similarly, they both offer a kindness cars as standard(3). Research from Defaqto shows that usually 53.3%(4) of policies opposite the marketplace offer this (subject to availability).
Cover supposing by the Sainsbury's typical and extended automobile insurance policies Percentage of automobile insurance policies that give this
Named drivers can consequence their own NCD15.9%
Full deputy casing in connection to youngster automobile seats 26.2%
£1,000 of casing for burglary of keys 45.8%
Accident ride cover40.2%
Courtesy automobile as standard, theme to accessibility (or not stated) 53.3%
Defaqto investigate (May 2011), consecrated by Sainsbury's Finance.
Sainsbury's Premier Cover Car Insurance moreover offers a operation of other benefits inclusive a on trial similar to for similar to kindness automobile that means a family's considerable seven-seater will be suited with other so that they can bring on as normal is to generation of repairs " usually 1.9% of policies offer this. It is moreover amid the 15.9% of policies that pledge a kindness automobile for 21 days or more subsequent to a complete loss of your vehicle(4).
More / rising cost of motoring
Ben Tyte, Head of Motor Insurance, Sainsbury's Finance said: "The cost of motoring has soared in new months as all costs, but quite fuel prices and insurance premiums, go on to rise. The cost of pushing may be kept improved in examine by selling around, quite for fuel and automobile insurance, and you hope that more Sainsbury's shoppers will ponder us for both."
Cost of pushing
ItemEstimated median annual cost per engineer April/May 2011 Estimated median annual cost per engineer in 1st April 2010Percentage increase
Insurance(5)£814.80 £623.56 30.7%
Fuel(6) £1,720.69 £1,400 22.9%
Servicing(8)£317.25 £3015.4%
MOT(9) £54.85 £54 1.6%
Tax(9) £181.92 £173.07 5.1%
Total(1)£3,089.51 £2,551.63 21.1%
To find out more about Sainsbury's new Car Insurance call 0800 210 0247, revisit or collect up a prospectus in store.
Sainsbury's new automobile insurance product supposing by RBS Insurance is existing to new customers only.
Those selling at Sainsbury's with their Nectar card already take points homogeneous to 1% off their shopping. Holding Sainsbury's Car Insurance or other one of the supermarket bank's subordinate bestow products, doubles this Nectar reward. A patron with a subordinate Sainsbury's Finance bestow product who spends £100 a week in store will thus take the homogeneous of £52 value of extra Nectar points a year.
(1) Based on amalgamated review of assorted sources inclusive ConsumerIntelligence.com, Office of National Statistics, AA, and . Comparison was done between the ultimate figures from these sources and those from April 2010. (Fuel comparison against Mar 2010)
(2) According to investigate from ConsumerIntelligence.com, the median automobile insurance premium in April 2011 was £814.80. £52 as a commission of this equals 6.38%.
(3) Courtesy automobile offered as typical on both policies (fully comprehensive). Subject to accessibility on Sainsbury's Car Insurance. Like for similar to on trial on Sainsbury's Premier Cover Car Insurance.
(4) Defaqto investigate (May 2011),commissioned by Sainsbury's Finance. Defaqto is an eccentric financial investigate company.
(5) Based on ConsumerIntelligence.com median automobile insurance information for April 2011 and April 2010.
(6) Based on pushing 10,000 miles a year in a Ford Focus (one of the UK's many popular cars) that does on median 37.7 MPG and typical motor fuel prices at the time of the research.
(7) ICM interviewed a pointless representation of 2022 adults elderly 18+. The interviews were conducted around an online omnibus consult between 13th May " 15th May 2011. Surveys were conducted opposite the nation and the results have been weighted to the form of all adults. ICM is a associate of the British Polling Council and abides by its rules. Further information existing at
(8) Based on review of the ultimate figures from the Office of National Statistics and RPI statistics. According to the Department of Transport, there are a few 27.8 million protected cars in the UK.
(9) Based on information from
Sainsbury's Finance:
To perspective our ultimate press releases and product information, greatfully revisit the Sainsbury's Finance online media centre at .
Sainsbury's was the initial leading British supermarket to open a bank, commencing trade in February 1997. Benefiting from a fantastic, devoted brand that enables us to mix the selling experience with personal finance, Sainsbury's Finance provides a operation of high quality products inclusive insurances, credit cards, extra savings and loans. Our tender is to make selling more rewarding by gift customers great products at satisfactory prices, whilst consistently rewarding shoppers for their faithfulness and being easy to do business with at all times. Our products consistently tip Best Buy tables and continually win awards for quality, cost and service.
Sainsbury's Finance new awards add Best Overall Online Provider, Best Direct Personal Loans Provider, Best Online Credit Card Provider, Best Online Life Insurance Provider at the Your Money Awards 2010.
Sainsbury's Finance is a J.V. between J.Sainsbury plc and Lloyds Banking Group.
For serve information and broad Sainsbury's Finance enquiries customers can call the freephone number on 0500 40 50 60 or revisit
About RBS Insurance
RBS Insurance is the second largest broad insurer in the UK1 and is unconditionally owned by The Royal Bank of Scotland Group. Headquartered in Bromley, Kent, it has operations in the UK, Germany and Italy.
It provides a far-reaching operation of broad insurance products to consumers by a number of well well known brands including; Direct Line, Churchill and Privilege. It moreover provides insurance services for third celebration brands, by its UKI Partnerships division. In the blurb sector, its NIG and Direct Line for Business operations give insurance products for businesses around brokers or send respectively.
In addition to insurance services, RBS Insurance continues to give encouragement and reassurance to millions of UK motorists by its Green Flag relapse liberation service and Tracker stolen van liberation and telematics business.
1Based on policies in force 2010.
About Nectar
Nectar, the United Kingdom's leading merger faithfulness programme, is owned by Groupe Aeroplan Inc., a universal personality in faithfulness management.
More than 50 per cent of UK households collect Nectar points when selling for groceries, carrying out DIY, engagement a holiday, profitable domicile bills, buying motor fuel and even getting their automobile serviced. Collectors moreover consequence Nectar points every time they emporium online around nectar.com at over 500 leading online retailers.
Since Nectar's launch in 2002, over £1.5 billion of rewards have been redeemed by its collectors. Rewards add allowance off shopping, travel and broad merchandise. For more information about Nectar, greatfully visit:
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