12/07/2024

Why you should avoid comparison sites: Expect gaps in cover for a ‘cheap’ price

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Do price comparison websites really give you the best cover for your money?

We’re all looking to make the best use of our time with our busy schedules and fast-paced lifestyles, and as the saying goes “work smarter, not harder”. But there are some tasks there’s no escaping from – and choosing the right insurance is one of them.

As human beings, we want things to be simplified, and this is where price comparison websites suck you in. They make us feel as though we are saving time, money, and effort. But…are they really?

We’re sorry to tell you, but car insurance comparison sites aren’t all that they’re made out to be. In this blog, we’re going to show you exactly how by using a comparison site you will likely be getting less cover with a ‘one size fits all’ approach, not always for the most competitive price and spending a lot of time shopping around for the ‘best’ option.

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An infographic of a comparison site.

Comparison sites don’t always give you the cheapest car insurance

More often than not: cheaper premium, cheaper product.

One of the most popular reasons why people use comparison sites is to get ‘cheaper insurance.’ Credit where credit is due, comparison sites are what they say on the tin, they enable you to compare prices very easily. In most cases, you can sort the results by price, so finding the cheapest quote available on these sites can be easy for people who like doing to do it this way.

This may lead you to believe that you’re getting the best deal available – after all, all your options are presented to you so clearly on their website…

The important part to remember here is that the cheapest quote does not mean it’s the one most suitable for your individual needs to fully cover you. Often with insurance – and other things too – you get what you pay for. So, the cheapest quote will likely give you less cover than you actually need.

For example, some of the cheapest quotes on the car comparison sites will exclude European use, but with us you can expect 90 days European cover as standard.

Are you aware that not all insurers will appear on these sites too? Insurance companies pay the comparison sites to appear in the listings, and even more will likely be paid for the sponsored listings that appear at the top.

There are insurance companies out there – like many that we partner with – who don’t pay the fees to feature on these comparison sites, and the premiums can still work out to be just as competitive…but with additional cover!

Speaking of which, let’s explore what the level of cover is like on comparison sites.
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You may be left with gaps in your cover

 

This is the most important one. While comparison sites might make it seem like you’re comparing apples to apples, the cover actually does vary from policy to policy, and even more so compared to the cover you might get vs with an insurance broker.

The cover on comparison sites isn’t very clear, where you could end up paying for something you’re not 100% sure what you’re covered for.

Let’s look at some insurance examples.

 

Specialist Car Insurance

Imagine buying a cheap, generic restoration kit for your classic 1960s Ferrari, only to find that the parts don’t fit properly, wear out quickly, and crucial components are missing altogether. It might look like a bargain at first, but you’re left with a car that’s not quite right with potential costly problems down the road.

This is much like buying specialist car insurance through a comparison site. The policy might seem cheaper at first, but you could find yourself with cover that doesn’t quite fit your needs or is missing completely.

We have looked at the cover that you could get on a popular comparison site (see more details and references here).

When things that are normally ‘add ons’ appear to be included as part of the car insurance quote, making it look like a cost-effective policy, it might not always be the case.

Here are some key areas that stood out to us, and things you should at least be aware of when taking out your next car insurance policy:

 

Insuring via a comparison site

Insuring with Norton Insurance Brokers
The value of your vehicle in the event of a claim Comparison sites use market value as the basis for payouts. This means if your vehicle is written off, you’ll receive what the insurer deems to be the current market value at the time of the incident.

As specialist vehicles can appreciate over time, this means you could end up losing money against the original value of your vehicle.

 We offer Free Agreed Value. We’ll agree the value of your vehicle with you when you take out a specialist car insurance policy, so if your vehicle is written off or stolen and not recovered, you know exactly what you will be paid out.

It’s straightforward: you tell us the value you wish to insure your vehicle, you send us six photos, we’ll agree it with you. No nasty surprises, just complete peace of mind.
Policy excess When you look at the total policy excess, you could end up paying around £600 to make a claim.

A high policy excess could restrict you from making a minor claim – should you need to make one.

 You can expect to pay excess starting from £100 up to £400 for a specialist vehicle with us. Of course, this is vehicle and risk dependent.

The lower the excess, the less you pay in the event of a claim.
Breakdown cover Several insurers include breakdown cover in their initial policies, others charge circa £30-£45. But this would only get you local recovery within a ten-mile radius in the UK only.

If you were to extend your breakdown recovery to Europe, insurers charge fees ranging from £65 to £105.

If you did this, your combined cover could include being towed within a 10-mile radius in the UK & anywhere from Europe for a total up to £150.

It isn’t possible to opt for a multi-vehicle breakdown policy via comparison sites, unless you liaise with the insurer to arrange after you take out the policy.

 Our clients get nationwide recovery no matter where they are in the UK…as well as assistance and recovery in mainland Europe. All for a grand total of £49.

Simple, straightforward and extremely competitive.

If you own multiple vehicles (up to 20), we can add these on for you too. To have all of your vehicles in the same policy it would cost £189 – even if you choose to have 2 or 20 vehicles on the policy.

It’s incredible value for money if we do say so ourselves!
Key cover Some insurers exclude it; others don’t specify the level of cover you get; some have lower coverage up to £1,000; others only pay out for claims if the key is stolen (not if it’s lost of accidentally damaged).

This is an ‘add on’ that really does differ by the insurer on comparison sites.

 With us, you’ll get cover up to £1,500 if your keys are stolen, lost or accidentally damaged, for a cost of £25.

At least this way you know what you’re paying for, with additional cover (especially with locksmiths callouts costing from £65 per hour nowadays) – all for £25.

At least this way you have the option of adding it on to your insurance policy if you wish to.

Which brings us back to our original point: are you really getting what you think you’re paying for via the comparison sites?

SPEAK TO US
View the Specialist Vehicle Insurance examples

Here are some of the insurer policies on the comparison site that we refer to in the table above.

An infographic of the car insurance comparison site examples we refer to in the article.

An infographic of the car insurance comparison site examples we refer to in the article.

An infographic of the car insurance comparison site examples we refer to in the article.

Travel Insurance

Likewise with vehicles, the same applies with travel insurance. Here’s what we found when we researched to see how our policies compared to the comparison sites.

Insuring via a comparison site

Insuring with Norton Insurance Brokers
Medical cover Example 1: Medical cover up to £5m with £150 excess.

Example 2: Medical cover up to £15m with £50 excess.

 Example 1: Medical cover up to £10m with £100 excess.

Example 2: Medical cover up to £15m with £0 excess.
Cancellation Example 1: Cancellation cover up to £1,000 with £150 excess.

Example 2: Cancellation cover up to £7,500 with £50 excess.

 Example 1: Cancellation cover up to £3,000 with £100 excess.

Example 2: Cancellation cover up to £10,000 with £0 excess.
Baggage Example 1: Baggage cover up to £1,500 with £150 excess. Single item limit up to £150 and valuables up to £150.

Example 2: Baggage cover up to £3,000 with £50 excess. Single item limit up to £300 and valuables up to £300.

 Example 1: Baggage cover up to £1,500 with £100 excess. Single item limit up to £300 and valuables up to £300.

Example 2: Baggage cover up to £3,000 with £0 excess. Single item limit up to £750 and valuables up to £750.

With the above, we selected policies which closely matched how our cover looks with one of our insurers (we have access to others too!) As you can see, cover on the comparison sites can often be less than it is with us.

View the Travel Insurance examples

Here are some of the insurer policies on the comparison site that we refer to in the table above.

An infographic of the Travel Insurance examples we refer to in the article.

An infographic of the Travel Insurance examples we refer to in the article.

You could spend hours shopping around with no human interaction

 

While comparison sites promise to save you time, the reality can be quite different. You might find yourself spending hours scrolling through endless options, trying to decipher complex policy details, and still feeling unsure about your choice over a number of days.

Here’s what often happens with car insurance comparison sites:

  1. You spend 10-15 minutes inputting your details to answer around 60 questions.
  2. You’re presented with a long list of options, often sorted by price.
  3. You start comparing policies, trying to understand the differences in cover.
  4. You realise you need more information…but there’s nobody to ask.
  5. You might start the process again on a different comparison site, just to be thorough.

Before you know it, obtaining your insurance quote has turned into a time-consuming ordeal. And after all that, you might still be unsure if you’ve made the right choice. The same can be applied when getting a quote for home insurance too.

What’s missing? A truly personalised service that values your time and peace of mind. With us, you’ll get guidance on the level of cover that’s right for your needs, and you’ll get clear explanations which you can easily understand.

Nothing comes close to picking up the phone and actually speaking with an insurance expert to discuss your specific needs to get you the policy you need. By choosing a specialist insurance broker, you’re not just saving time – you’re ensuring you get the right cover for your vehicle.

Your interaction won’t stop there with us either. You will get your own dedicated Personal Client Manager to help you with any future queries; you’ll avoid call centre queues and instead have their direct phone line to call whenever you need to. This may include a question about your cover before you set off on a road trip abroad, a quote for another insurance or help with submitting a claim.

 

A man getting annoyed at not being able to speak to a human when using a comparison site.

 

Beware of the use of your data

 

To your own innocence, you might think you’re just getting a quick insurance quote. But you might be in for a surprise, as your data could be about to embark on quite the adventure.

Your personal information isn’t just going to the insurers you see listed, it’s possibly being shared with a whole network of the comparison site’s partners. The list is longer than you might expect too:

  • Insurers listed on the comparison site.
  • Credit reference agencies (even if you’re not asking for credit).
  • Market research companies.
  • Life insurance partners.

It’s worth considering if the ‘convenience’ of comparison sites is worth the potential data trade off. It’s not to say that your data is being mishandled per say, but this is what you would be agreeing to before getting a quote via the comparison sites.

When you choose a specialist broker like us, we handle your data with care. Your personal details stay between us and the insurer you choose – nothing more, nothing less.

Remember, if you’re not paying for the service online, you’re likely the product. Always read the small print if you’re curious where your details go. Be wary of where you’re entering your details to keep your data protected!

 

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Speak to us about your insurance needs

While comparison sites might seem convenient, they often fall short when it comes to getting you the cover you need, for a competitive price, in a timely manner, whilst keeping your data as private as can be.

Don’t settle for a one size fits all policy via a comparison site which might leave you underinsured. Send us a message here and we’ll get in touch to discuss your needs over the phone shortly.

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