Car Insurance Comparison sites sharp practice?

DerekandClive

I have obtained car insurance quotes from several comparison sites; generally they appear able to sell the exactly the same product that insurance companies provide, much cheaper. So there is a penalty for going direct. This is the seller's right, to vary the price of a product because of a referral, underhand in my view but not illegal? So most of us are forced down the comparison site route. However it seems that this year the ability to save a quote has all but disappeared. My experience using Uswitch is that it seems impossible to save the quote - the site forces the user to "view prices" on an existing quote which then generates a new quote - often dearer.

Therefore it seems that to obtain the best price is to get a quote about 20 days in advance and purchase (and pay for it) immediately. It seems that the days of saving a quote are gone - real time updates (often  increases) may now be how prices are calculated. On some sites my advice is to make a note of any reference number so that it can be repeated nearer the time of renewal.

Seems to be some sharp practice by the car insurance industry making sure they are not exposed to any potential loss. 

Hoping this helps other looking for a reasonable price.

DullGreyGuy

There is nothing illegal of selling the same product at different prices via different channels. I would double check it is the identical product though as some do vary inner limits, excesses etc and sell a more cut down version of their product via aggregators compared to what they sell to direct customers. 

The industry combined ratio for Car in 2023 was 114%... ie for every £100 of premium after tax they receive they pay out £114 on claims, marketing, salaries etc. This was a slight improvement on the 2022 ratio. So not sure what you are talking about "sharp practices to not be exposed to any potential loss".

Your issue seems to be more with your choice of aggregator and nothing to do with the companies on the panel, certainly other aggregators do allow the saving of quotes for a period of time. 

Weighty1

How is it sharp practice to not expose the business to a loss?  Anyone running an insurance business would do well to try and minimise losses, aside from those losses incurred by paying out on claims.