Have the insurance comparison sites had their day?

[slowmotion]

Srw will doubtless correct me if i am wrong here, but the reason for renewal hikes is that the cost to an insurer of acquiring you as a customer exceeds the money they make from you in the first year. "Renewal gouging" and "your introductory first year special offer ended" are just two ways of looking at the same thing

"They are all c*nts" is another.

 

[Electric_Andy]

No i don't think they'll ever die out. Most people want convenience when renewing insurance or services, as well as the best deal. As long as they are under the illusion that the cheapest quote on the site is actually the cheapest they'll get full stop, people will still use them. They are, in a way, the supermarkets of the policy renewal world. I say this because it relates to what I call the "Trago Mills" theory. If you buy something from a place that is renowned for being cheap, then you're going to trust that whatever price the sticker says is the best price around. You don't then go around to 12 other shops to compare, because you've already got what you want, at what you think is the best price.

 

[mjr]

No i don't think they'll ever die out. Most people want convenience when renewing insurance or services, as well as the best deal. As long as they are under the illusion that the cheapest quote on the site is actually the cheapest they'll get full stop, people will still use them. They are, in a way, the supermarkets of the policy renewal world. I say this because it relates to what I call the "Trago Mills" theory. If you buy something from a place that is renowned for being cheap, then you're going to trust that whatever price the sticker says is the best price around. You don't then go around to 12 other shops to compare, because you've already got what you want, at what you think is the best price.

I feel it's actually the convenience aspect of the "Trago Mills" theory more than the best deal part: you think it's probably going to give close enough to the cheapest that you don't feel you should have trekked around the other shops to compare prices and features, because entering your insurance details into 57 slightly different web forms makes you want to pick up the power drill and bore a hole in your head to let the dull out even more than walking between shops full of screaming kids.

 

[Tin Pot]

Been shopping around for cover on the car..
Best i could get for comp on the car was £242 with windscreen on comparison sites.
I want courtesy car ,windscreen , legal cover.. Best quote was 300 ish on comparison sites.

I thought id try direct line for a laugh as they dont advertise on those sites..
Well that came in at £245 with everything including ncb protected..

I shall see what others are offering who dont use these sites.
I didn't see Hastings on my searches either so maybe they're off the compare sites too, they are always top of the compare prices whenever i look but need to be tweaked to suit your needs but often good value.

Quite the opposite - the government is forcing companies to become easy to compare and switch to online.

So they may be a bit pants now, but they should become more effective, and more prevalent.

 

[MacB]

Why not nationalise insurance with everyone starting at the same point and then for traffic violations or your fault accidents your tax code changes to increase your tax %age. It could reduce back down for good driving behaviour.

 

[Levo-Lon]

I've used Admiral for a few years now. They always give some daft renewal quote but i just ring up and say i don't like it and they tend to be obliging. I just wish they would give the best price at the start

Im with Admiral..the renewal has rocketed..nearly £400.. Last year £260 fook em

 

[Lee_M]

I thought it was sort of a standard practice, or maybe I just read that in a Grisham book. When you're selling try a high price cause some will always bite. When you get claims deny them first cause some will not come back.

The big companies all make ethical claims and announce their desires to give us the best service at the best price. I'd love to give the benefit of the doubt but I find a cynical attitude gets proven right more often.

Never attribute to cynicism and sharp practices that which can be equally described as incompetence.

Having worked in several insurance companies I can say they don't have sharp practices, they have a set of criteria on a complicated spread sheet that works out all the numbers, which gives the basic prices, the differences are then based on marketing and special offer budgets, sometimes they work in your favour sometimes they dont.

When I worked at morethan my staff special discounted car insurance was actually more expensive than I could get it via the meerkats, so that's what I did

 

[NorthernDave]

Price comparison sites will always be around, but they only really work when you're buying a straightforward policy or know exactly what cover you need and are savvy enough to put that together from the options online.

People often buy a bog-standard policy, usually on price alone, that doesn't really meet their needs and then feel ripped off or let down when they're not covered, or not covered to the extent that they think they should be.

That's where brokers come in as they should take the time to understand exactly what cover you need and make sure you get a product that fits those needs

 

[MacB]

When I had a large and very expensive bike collection getting insurance was a nightmare, most wouldn't even consider a bike over about £1k. Following a recommendation I tried Barclays high end insurance division, for people with high value goods like watches, jewellery, etc. Their overall quote was cheaper than any I had come across and multiple bikes up to £5k each were no problem at all, didn't even have to list them.

It's been while but I'm sure I put the details up here a few years back. This was telephone only at the time didn't appear on any comparison sites.

 

[welsh dragon]

[QUOTE 4915149, member: 9609"]I'm mostly back to being with a broker now, Its good not to have to get involved with the sneaky tactics of insurers trying it on with 50+% increases. I think insurers are up their with bankers for moral integrity, so having a broker who would hopefully be on my side gives me a little extra confident.

I think it could be a little more expensive than the online ones, but maybe I'm getting a better policy with a better company ?[/QUOTE]


Perhaps, but also you are getting the personal touch. You can get to know them and they will get to know you as well, and may be far more helpful and accomodating. Insurance through a broker can be an altogether better experience, and less stressful if something does happen.

 

[Levo-Lon]

When I had a large and very expensive bike collection getting insurance was a nightmare, most wouldn't even consider a bike over about £1k. Following a recommendation I tried Barclays high end insurance division, for people with high value goods like watches, jewellery, etc. Their overall quote was cheaper than any I had come across and multiple bikes up to £5k each were no problem at all, didn't even have to list them.

It's been while but I'm sure I put the details up here a few years back. This was telephone only at the time didn't appear on any comparison sites.

The good lady does the house cover..
We have been with Barclays for years as she always gets the best deal with them..
It usually takes a half hour phone call but she gets what she wants with that.

 

[MrPie]

What they don't tell you is that the insurance comparison websites are owned by the insurance companies. Take a lucky guess at who owns the insurance company that offers the cheapest policy on individual comparison websites.

 

[Electric_Andy]

I feel it's actually the convenience aspect of the "Trago Mills" theory more than the best deal part: you think it's probably going to give close enough to the cheapest that you don't feel you should have trekked around the other shops to compare prices and features, because entering your insurance details into 57 slightly different web forms makes you want to pick up the power drill and bore a hole in your head to let the dull out even more than walking between shops full of screaming kids.

Yes true. To confirm your point, I did a comparison and phoned my current insurer to cancel. They quoted me £12 dearer than the cheapest online quote, but I thought £12 was just good enough to keep me with my current one (to save taking out new policy, sending proof of NC etc).

 

[Deleted member 26715]

My story or rather my wife's as her car is insured in her name, renewal from Aviva came through £201 this is supposed to include a £20 discount for renewing it online, couldn't see the policy when I logged in to her account (because I logged into my account Oops) so did another quote with them £197, talked to their online chat team who promptly dropped her online one to £181 but ONLY if I did it immediately. Scum the lot of them, how they lay straight in bed at night is beyond me.