What's the deal with Policy Expert?

TheFlyingGerbil

I've just been looking at home insurance for my parents. I will easily be saving them over £600 by changing from their long-term provider! However I wonder if I should push my luck...

I was on confused.com and most of the results where broadly the same, but Policy Expert was £50 cheaper. When I was trying to find out about them I ended up on Topcashback saying they give £90 cashback.

That would leave the year's insurance at a suspiciously cheap price. I've never heard of Policy Expert though and my Mum wasn't happy with it being so much cheaper than the rest. Can any of you give any reassurance about the company or should we just be happy with the still significant savings from a company we've heard of?

Quentin

They are a broker, not an insurer.

TheFlyingGerbil

hmmm, so if I recognised one of the insurers they use I could still get the £90 cashback and use an insurer my parents' are comfortable with.

What's the difference if I bought insurance through a broker (like Policy expert) and buying direct from the insurer? Sorry to ask stupid questions!

Quentin

The policy may not be like for like. You'd need to check policy wordings.

There are lots of "suspiciously" cheap home insurance deals when you use cashback sites. All relative to the net variable premium after deducting the fixed amount of cashback

https://forums.moneysavingexpert.com/discussion/978647

*Scarlett

It would not surprise me that you could save £600 by switching insurers if your parents have used the same provider for many years.

Make sure you have adequate cover - there are online tools you can use to estimate how much you need to insure for.

You could have a look here to see how the cover compares

http://www.defaqto.com/star-ratings/home-insurance?ProductTypeView=StarRatingsCenter_HomeInsurance_Contents_ProductDetails_2014StarRating&Ratings=&Products=&Product=&Search=policy&Sort=

http://www.defaqto.com/star-ratings/home-insurance?ProductTypeView=StarRatingsCenter_HomeInsurance_Buildings_ProductDetails_2014StarRating&Ratings=&Products=&Product=&Search=policy&Sort=

And make sure the excess fees are acceptable.

ruggedtoast

Every cash back insurer i have ever used on topcashback, including policy expert, just loads the cash back onto the premium. So there is no advantage over going through them directly. Only hassle getting the money back from tcb.

I bought a PE policy. Not claimed on it so no idea what they would be like.

Snowbelle

I had cover from Policy Expert a few years back and claimed the cashback. Now my renewal is due and they are coming up the cheapest taking into account cashback. Can anyone clarify if I qualify for the cashback as a "new" customer since I have not held a policy with them for several years so this is not a renewal.

*Scarlett

Snowbelle - you can take advantage of any offers available. You are a new customer as you don't currently have a policy with them (even if you are a previous customer).

Snowbelle

*Scarlett wrote: »

Snowbelle - you can take advantage of any offers available. You are a new customer as you don't currently have a policy with them (even if you are a previous customer).

Thats good to know - many thanks *Scarlett.