Top Marks?

By JO THORNHILL
Updated:

 

MARKS & Spencer claims that motorists will be able to save an average of £60 if they add car insurance to their shopping basket.

The High Street giant now includes car cover in its array of financial products. As well as the promised cheaper premiums, breakdown assistance from the RAC will be offered as standard.

M&S says quality and customer service will be the main focus. The M&S policy, which offers up to £10,000 for personal injury and £200 for personal effects stolen from a vehicle, also includes a courtesy car for seven days after an accident and breakdown cover for Continental trips of up to 90 days.

Peter Longstaff, head of general insurance at Marks & Spencer Financial Services, says: 'Research showed us that motorists want extra services such as breakdown assistance and a courtesy car, so we've built our proposition around that. But motor cover is highly competitive. We are using a panel of insurers to make sure we are keenly priced.'

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M&S would not be able to save Gus Zogolovitch, pictured left, any money. The 31-year-old analyst for a London property development company has only four years' no-claims.

He pays £450 a year on his seven-year-old Ford Mondeo for third party, fire and theft with Insureyourmotor.com. Gus, who lives in west London, would pay £546.53 with M&S. However, he would consider the M&S policy for the breakdown cover.

'Price is the most important thing to me,' says Gus. 'My car is fairly old and I need only third-party cover, so I want the cheapest policy. However, the breakdown assistance M&S is offering as standard could be worth more than £100 in itself.'

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James Harrison, managing director of InsuranceWide.com, an online comparison service, says M&S is using intermediary Budget Insurance to arrange cover through big name insurers such as Axa, Churchill and Norwich Union. 'This should mean some attractive premiums,' he says.

But Harrison says M&S's claims of lower prices will not be true for all drivers. 'Our research shows that this offering will be of benefit perhaps to older motorists and those with less powerful cars,' he says.

M&S chargecard holder Dorothy Morris, 65, has more than five years' no-claims bonus. The retired teacher from Altrincham, Cheshire, pays £360 a year for comprehensive cover on her Audi A3 1.6 through independent broker Berry Birch & Noble. M&S says it could cut this by £41.

Information is available in all stores and instant quotes are availableonline at www.marksand spencer.com/carinsurance. Policies may be bought over the phone on 0800 107 1825 or in an M&S store with a financial services centre.

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