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Alliance and Leicester moves into car insurance market

UK financial services group Alliance and Leicester has entered the car insurance market with a pledge that it can beat the renewal quotes of other providers by at least GBP10.

According to the group, its insurance product will offer a number of features, including new car replacement if the vehicle is under one year old, personal belongings cover and personal accident and medical benefits. In addition, claims solely for glass damage or emergency medical treatment will not affect the no claims bonus.

Alliance and Leicester claimed that, with its product, motorists would be able to save hundreds of pounds on insurance cover, or at least GBP10 on a renewal quote.

Nathan Barber-Kebby, insurance manager at Alliance and Leicester, said: By pledging to offer an unbeatable premium to those renewing their car insurance, we are continuing to do what we know best, challenging the established players in the market who may rely on customer apathy to retain business rather than delivering great value and giving people a good reason to switch.

According to Alliance and Leicester, motor insurance is the first of a number of new standalone insurance products that it will be offering. The product will be launched with partner Equity Insurance Group, which is already experienced in the car insurance sector.