A highly competitive market exists for those looking to offer insurance online, it has been claimed.

This is because Sainsbury’s Bank has revealed that consumers are perfectly comfortable taking out cover using the internet.

The firm added that the number of people going online when it comes to taking out car, van or pet insurance has steadily increased over time.

“I think it’s a highly competitive market at the moment,” commented communications manager Natasha Virtue.

Ms Virtue went on that the internet is becoming popular simply for researching insurance options and giving people a feel for the market before they take the plunge with a deal.

“In terms of online purchasing, it is a growing trend. We’re seeing a steady increase,” she added.

This comes after the British Insurance Brokers Association commented that home insurance companies had reacted well to the flood crisis in the south of England.

A spokesman called any subsequent price increases a “knee-jerk reaction”.

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