UK Money News
23rd July 2008
Alarms 'impact negligibly on insurance premiums'
Attempting to cut insurance premiums by fitting an alarm does not result in the reduction consumers may expect, it has been revealed.
Tescocompare.com found that contrary to popular belief fitting an alarm to a home brings the average cost of home insurance premiums down by just £5.
Fitting one to a car, meanwhile, has even less effect and cuts premiums for car insurance by £1.70.
Paul Baxter, director of commercial and partnerships at Tescocompare.com, said that the cost of fitting alarm, therefore actually outweighs the savings to be made.
He added: "Installing alarms to your property or car will no doubt go some way to offering you peace of mind, but if you are planning on saving money on your insurance premiums you should make sure you check your options first.
"It is definitely worth running a range of quotes on an of quotes on an insurance comparison site prior to fitting any alarms to make sure you are aware of the best insurance options for you, whether this is with or without added alarms."
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