Insurance comparison sites clamouring to save customers money are failing to deliver the best policies, claims consumer champion Which.
The Insurance Blogger has long argued that the first factor someone looking for insurance should disregard is price.
The best way to compare car insurance – or home or travel insurance – is to look at the cover offered by the policies.
Comparison sites and their insurance providers want to make consumers choose on price rather than quality or standards of service.
To turn the tables, insurance buyers need a short checklist of what they want from their cover.
A motorist looking for cheap car insurance should look at the finer details, like the cost of paying an excess, replacement values and what happens if the vehicle is off-the-road for crash repairs.
Once the policy details are right or as near as they match the driver’s spec, look at the quoted price.
The rule is cheap car insurance is unlikely to offer the cover a driver needs – it’s better to buy the best value insurance that includes all the factors the driver wants in a policy.
Which has also revealed that customer satisfaction is low with online insurance comparison sites, with the best rated sites only achieving the same rankings as the worst rated direct insurer sites.
For instance, moneyfacts.co.uk was the best rated financial comparison site at 44%, while Allianz was the worst rated direct car insurer out of 45 with the same score.
Santander fared even worse as a home insurer, coming in at 48th place with a score of just 41%.
Eight comparison sites of 11 rated returned a satisfaction score of 40% or less.
Which found one of the main problems of comparison sites was they quoted on a ‘one size fits all’ policy rather than tailoring cover to match a customer’s personal circumstances, which makes quotes more expensive and can lead to some customers taking out unsuitable policies.