Buying car insurance and house insurance online gives consumers a better deal as more comparison sites and brokers sign up to a good practise guide.
Launched at the start of the year as a joint venture between Which?, the Association of British Insurers (ABI) and the British Insurance Brokers Association (BIBA) is designed to make comparing insurance policies easier and clearer.
The guidance already has an 80% take up of insurance price comparison web sites.
Price comparison web sites following the scheme now:
- Clearly display the total excess payable and explain the difference between any voluntary and compulsory excess
- Highlight any additional add-on costs that are part of any premium quoted
- Warn customers about deliberately giving false information
- Tell customers how long quotes are valid
Nick Starling, a director of the ABI said: “This guidance is helping millions of customers buying general insurance get the best policy for their needs before they click to buy.
Check out the provider’s independent Defaqto rating
“Over two-thirds of customers use the internet to arrange their motor insurance alone, and the speed and convenience of going online must be balanced by ensuring that people understand the terms and conditions of the policies they are comparing.
“We are working with participating comparison websites, insurers and intermediaries on areas where further improvements can be made, to ensure that the customer gets the best possible experience when arranging insurance online.”
If you are looking for cheaper car or home insurance, a good tip is to check out the provider’s independent rating from Defaqto, a company that researches insurance products.
A Defaqto star rating reflects the quality of a financial product, helping you make a more informed decision about which one suits your needs.
Defaqto ratings look at a policy’s features and benefits rather than cost or your personal circumstance.