The Policy Shop - Car insurance...

hardy1976

Hi,Has anyone had any dealings with the Policy Shop (car insurance)? They have come up on moneysupermarket as the cheapest option (including everything that I want)… however looking at there website it a little cynical about it!Just wanted feedback - good or bad!!!H

dacouch

They are a broker / intermediary, they are authorised by the Financial Services Authority. For future reference you can check a company is regulated by the FSA using this link...

http://www.fsa.gov.uk/register/home.do

As they are the broker / intermediary they are not the Insurer, which Insurer have they quoted you with?

ijgreer

I would be very wary of price comparison websites, make sure you check and double check ALL fees relating to Mid Term Adjustments and cancellation, also any direct debit charges, and customer service reviews.

The cheapest policy isn't always the best one.

hardy1976

dacouch - thanks I'll go check!!!!

ijgreer - Mid Term Adjustments being?!?!?!?! I was going to pay it in one hit so I dont get the ridiculous charges!!!

I know cheapest isnt always the best... but what is?

BenL

Mid Term Adjustment, are you moving house? plans on changing car? Adding or removing a driver?

Some companies charge a MTA fee on top of any additional charge the rating system throws up.

If you downsize your car reducing the premium overall you can end up paying more in fees than the premium reduction.

I haven't heard of them when looking for car and home insurance.

Have you run through Martins guide and checked quidco?

I usually find the cashback being paid by the main insurance companies makes them the best bet and usually cheaper overall than these other companies/brokers.

hardy1976

hmm the three schemes they are shopwing are...

POLICYSHOP GOLD PARAGON PLATINUM ERS Orchid

hardy1976

BenL - thanks...

They came up top of the moneysupermarket listing, I've googled them but found nothing to report as such!

Which companies offer cashback? how does that work?

dacouch

The companies they are quoting you with are Paragon who are part of the Great Lakes Group who are American and ERS which is Equity Red Star.

They are both okish

BenL

Are you signed up with Quidco.com?

The registration process is good and it guides you through well.

The fee is £5 a year which they take from your earnings.

Before you buy anything on the internet you sould check them out.

Quick check today reveals

More Than - £75
Co-op £75
e-car £70
RAC - £70
Zurich - £70
ASDA £60.48
Be Wiser £65
Norwich Union Direct £52
natwest £50
Esure £45 (i am with these now)

http://www.quidco.com/finance/life-auto/highest-rates-currency/