car insurance very cheap

stranger12

Hi guys,

I have tried to get a quote for my M5 with 50k value and cheapest on go compare and confused.com is £2.2k

I yet paid £510 last year using my broker .

I am planning to use them again but question I have is , are people not aware of the telephone brokers?

why are they so much cheaper than online quotes?


for instance admiral and other big insurance companies do not offer a price below £3k so how the hell can my broker arrange a £510 policy and make £60 on the policy ?

paddyandstumpy

Simply, they have access to rates and markets the public don't.

There are Broker only insurers, and schemes which tend to be via Brokers, hence you can get different rates.

Although, wait to get your renewal to compare prices. Last years price of £510 doesn't mean it'll be the same this year, especially if the market is 4x that.
Perhaps there was an error in Pricing last year?

stranger12

This has been the case for last 3 years so doubt this is an error

How can you find all brokers like this?

I hav found 4-5 brokers online but want to find multiple to ensure i get the best rate

Is there such service for home?

rudekid48

That's a big price difference - are you certain that the "Broker" you are using is legit? There are such things as 'Ghost Brokers' where in reality you are not insured at all....

Have you received proper policy documents from an insurer and an annual certificate? Do the details on the policy documents accurately match your own?

stranger12

Yes and it shows as insured on askmid

Also received all documents

ripplyuk

What broker is this? Can you name them OP? That's a huge price difference and I wouldn't mind getting a quote from them.

stranger12

Skyinsurance only deals with high performance cars though and i am puzzled why they are sooo cheap

paddyandstumpy

Sounds like they have a scheme.

Who's the actual insurer? I'd imagine ERS or Highway?