Concerns about Compare the Market substantially cheaper than going direct to insurer

edited 9 June at 10:51AM in Insurance & Life Assurance
13 replies 275 views
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  • mojo1mojo1 Forumite
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    When they see you coming direct they try to rip you off as much as possible. They assume you are an easy mark who doesn't use comparison sites.

    If you use a comparison site you get a competitive quote.
  • edited 10 June at 11:31PM
    yksiyksi Forumite
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    edited 10 June at 11:31PM
    Remember, they are lowering their intro price to lure you in, and hoping you'll stay more than a year, so they can jack up the price later. On price comparison sites, that competition is fuelled and this forces the offers down. They're trying to make that illegal, but it hasn't happened yet to my knowledge - so this could be part of it too, and you'll know it's a thing so you'll make sure to check next year before renewal.
  • SandtreeSandtree Forumite
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    yksi said:
    They're trying to make that illegal, but it hasn't happened yet to my knowledge
    No trying about it, you just have to give the industry time to adapt to new regulations (and the regulators time to think of the answers to outlaying scenarios they haven't considered yet). The new regs come in early 2022 based on the date of renewal quote, not renewal date.
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