Should I do my own research as as well as using comparison sites?
You should always do your own research as well as using comparison sites as not every provider is using them. This should be the same for every type of service that you buy, whether that be insurance, gas and electricity etc. You should also ensure that you read the policy details correctly regardless if you go 3rd party or direct.
Why isn’t using comparison sites enough?
Not all companies use them – This means that you could be getting a better deal from a different provider but because it isn’t on the comparison site you haven’t seen it. Direct line are one of the companies who are not offered on comparison sites and they are one of the market leaders.
Some companies own comparison sites – You may not be getting an impartial comparison if a parent company owns the comparison site. For example, confused.com is owned by Admiral and so they may promote and favour admiral to get more customers. You should do your own research so that you don’t fall into this trap.
Queries cannot be answered immediately– Not having a direct line of communication when taking out insurance/new product can be undesirable for some people. You may have particular circumstances which you want to confirm before you take out a contract
What are the benefits of using comparison sites?
Could save you money – By using a comparison site you can save money by finding cheaper deals. You may not know of some providers and so couldn’t search for them individually, this is where the comparison site could help.
Could save you time – Comparison sites are usually created to save time and effort. By having each offer side to side with their price and offering saves you time in ordering them yourself. If you are able to see each service compared, you can make a decision easier and quicker.
Provides choice – Comparison sites give you more choice as you are able to access more quotes readily. By having more providers in front of you, you have more choice in what you want.
Should I auto renew my insurance?
Once insurance is due to run out, some people just let it auto renew with their current provider. However, sometimes this option is more expensive as some providers do not give you a current quote they go off the last one. The government have announced that they want to stop suppliers putting loyal customers on to the worst deals when their contracts come to an end. BBC news reported that they want to suggest two routes to stop contracts being able to roll over indefinitely. These are;
- Opt-in switching – where consumers are offered a simple method of switching to a cheaper tariff if their initial contract has ended
- Or opt-out switching – where, unless they choose not to be, consumers are automatically switched to a competitive new contract if their initial contract has ended
Overall, we think that comparison sites are a good help when you want to find the best deal for something. However, you should always look elsewhere and do your own research. We have worked with comparison companies which can help you to;