Car finance customers thinking about cutting back on insurance as a result of the recession should exercise caution, it has been suggested.
According to the British Insurance Brokers' Association (Biba), motorists should not choose a policy based purely on price.
The group suggested certain online resources might not always be the best way to research deals.
Graeme Trudgill, technical and corporate affairs executive with the organisation, said: "Comparison sites can be quite a dangerous tool because some of the biggest ones have an excess page that defaults on £500 voluntary excess and then you can have compulsory excess as well."
He stated this could result in drivers having to shell out significant sums of money in the event of a claim.
Mr Trudgill concluded motorists should be wary of poor cover with high excess rates and think about the features of a policy that are most important to them.
Biba represents the interests of insurance brokers, intermediaries and customers in the UK.
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