Comparison sites- why so different?

janb5

I`m in the throes of getting quotes for my car insurance.

Quite by chance I inputted my details on both Go compare and Money supermarket,com expecting the prices to be very similar.

But weirdly they are significantly different in price even although the companies are the same.

For a Hyundai i110 the difference is £133!

Anyone else had a similar problem?

dunstonh

But weirdly they are significantly different in price even although the companies are the same.

Differential pricing occurs across the whole marketplace. Not just on comparison sites. There is no price cartel.

huckster

It is not a problem.

Remember that comparison sites are a business earning commission from the sales made through them. They are not simply just reporting premiums offered by Insurers from some underwriting calculation, where the rates are going to be the same wherever the purchase it made.

Also another issue you may not be aware of. Many Insurance companies don't have static rates on their systems. What I mean by this, is that the rates are not set for say the whole of this week, this month or this quarter. The Insurers computer systems have sophisticated programs, where they are constantly monitoring data and adjusting premium rates every day. You could phone say 9am today and 9am on Monday with exactly the same info and get two different quotes.