What’s cheapest... comparison sites v direct insurers

Neal2k

Totally agree. I have just taken out a new insurance policy for a new car and Direct Line came up with the goods again, I've been with them for around 10 years now. I always try a wealth of suppliers, and comparison websites (comparing features of the cover is also important to me), and never find anything cheaper. One of the most shocking things I discovered this time around was how high the excess is for most of these "cheap" insurers.

bristol_pilot wrote: »

I find DL consistently cheaper than the comparison sites and aviva by far the most expensive. And I check every year. Someone has to pay for all those TV ads I suppose.

aaf1966

For the last few years I have always switched between Direct Line and Churchill. The policies are absolutely identical (both owned by RBS) and you get the new customer discount every year. I always find them as cheap as the cheapest offering on comparison websites, but always with a better level of cover.

raskazz

Oscar_The_Grouch wrote: »

Why is it that this site continually ignores local brokers? Your poll at the top doesn't even mention brokers. Do you have something against them?

Brokers have access to markets that simply do not appear on the price comparison sites. Many insurers, especially the Lloyd's Syndicates, have schemes that are exclusive to brokers but MSE seems determined to ignore this area of the market. Why is that?

Surely, it would be beneficial for people to pick up the phone and speak to their local broker; especially if they can say "my best quote so far is £...". They may get a lower price and because the broker relies on his reputation, the service is likely to be better.

And before anyone asks; I don't work for a broker. I haven't worked for a broker since the mid 90's.

Very good point.

If I was self-employed and thus purchased commercial insurance through a broker I'd always check out what the broker could do on my private car. Often they will take the commission off the private motor part as it will cost them minimal amounts to service it and they are really only offering it to lend the relationship a more personal connection in order to keep the tasty high-margin commercial business sweet. Besides, rates offered by insurers to proper independent brokers are often not as expensive as you might think because the local connections and knowledge of the staff means that risks are properly priced and serviced and the policy is more likely to be held long-term - you should see some of the stats for some of the local brokers that my insurer uses. Stuff like 50% loss ratios over the last decade on private car business (which is virtually unheard of in the market as a whole).

If you want proper service you cannot beat a well-run old school insurance broker (not the likes of Swinton etc). You also know that should something go seriously wrong then you can go and meet face-to-face to thrash things out rather than having to talk to someone on a another continent on the phone.

Dangermac

Wutang wrote: »

As a result, I am only interested in insurance where I get cashback and I can also claim for misselling later.

This is the sort of person who buys cheap and then moans when things go wrong. The public seems obsessed with saving money, yet are quick to moan when their bargain-basement product/policy/service/car goes wrong.

When you buy a car, do you buy a £250 banger because its cheap? Of course you dont. You buy a more expensive car, partly because you know that it will be more reliable.

Okey, just because an insurance policy is more expensive, doesnt mean that it will be great. However, few people on this site seem to buy on service/cover basis.

As for you Wutang, good luck on your cheap car insurance. Just because things go wrong, or your policy isnt any good, doesnt mean that you will have a mis-selling claim. Enjoy your £25 saving.

Dangermac

dacouch

Wutang was being ironic about the MSE obsession about buying the cheapest insurance and getting the best cashback

Wutang_2

Dangermac wrote: »

This is the sort of person who buys cheap and then moans when things go wrong. The public seems obsessed with saving money, yet are quick to moan when their bargain-basement product/policy/service/car goes wrong.

When you buy a car, do you buy a £250 banger because its cheap? Of course you dont. You buy a more expensive car, partly because you know that it will be more reliable.

Okey, just because an insurance policy is more expensive, doesnt mean that it will be great. However, few people on this site seem to buy on service/cover basis.

As for you Wutang, good luck on your cheap car insurance. Just because things go wrong, or your policy isnt any good, doesnt mean that you will have a mis-selling claim. Enjoy your £25 saving.

Dangermac

I hope lots of people read this!!

A1dan_2

mikey72 wrote: »

Cheapest is never worth it, look at all the threads on here about lack of service. I agree about using a broker as well.

Yes, but how do you know?

I just went for Aviva the other day, as they turned out to be cheaper than any of the comparison sites, due to their 10 months for 12 thing.

I don't know if they are worse than bargainbasementcarinsurance.com, or whoever was cheapest in the comparisons, though I'd admit to the fact that they are a big well known company does sway me towards hoping the opposite would be the case.

However, neither Aviva nor bbci.com had "features terrible customer services, and a lack of willingness to help you process a claim, not to mention actually pay out" listed as a feature, even in the small print... seems like they don't have to declare this.

dacouch

Wutang wrote: »

I hope lots of people read this!!

I like your style, not only did you post an amusingly ironic post that was so ironic it misslead people as to your intentions. But as a result you also got someone else to (Unintentionaly) do a few unhundred key strokes to say what you actually thought...if that make sense