Comparison site caution: top reasons to shop around yourself

Friday, 12 July 2013 12:33

Reviewing your insurance options

Reviewing your insurance options

Insurance is one of those everyday necessities that we all need, whether it's for the car, the home or even to protect our holidays. It can also be a big drain on our finances, which is why it is important to shop around – but should you let comparison sites do the work for you?

The answer is no – not if you can avoid it. Insurance comparison sites can be excellent tools to find good deals, but they should be used as part of your research, rather than doing all of your investigating for you. To find out why, as well as learn more about how to save money on your insurance policies, read on.

How to use comparison sites

First of all, let's take a look at comparison sites. Websites like this proclaim to offer consumers the chance to discover the best deals far more simply and quickly than they could do by researching independently – but there are catches it's vital to be aware of.

For instance, insurance comparison sites do not feature every single insurer – and some miss off particularly prominent providers (usually because these insurers have refused to pay to be featured on these sites). A good example of this would be that you cannot find the car insurer Direct Line on comparison sites.

What this means for you as a consumer is that you need to be prepared to look at offers not featured by comparison companies. The next thing to be mindful of is that different comparison sites will offer different deals, which means you will not necessarily get the same results on each. To tackle the problem, you should use several sites and compare the results yourself.

Our next word of warning is that it's essential you input your details as accurately as possible. Fail to do so and the results you'll be presented with won't be a true reflection of what you can expect to pay – which is little use when it comes to saving money.

Other ways to save on your insurance policies

Taking care when using comparison sites and remembering to conduct your own research as well are not the only ways you can save money on your insurance. Indeed, one of the first steps you ought to take is finding out whether there are any special benefits you are entitled to.

For instance, if you currently work in – or have ever worked in – the civil service, you can get some fantastic discounts through organisations such as CSMA Club. This applies to car insurance, home insurance and travel insurance, while it's worth remembering that family members of people working in such positions can also enjoy benefits like this.

Another useful tip to remember is that it's often possible to save money by taking out several policies with the same insurer. For example, if you purchase car insurance with one provider, you might be able to take advantage of offers such as free breakdown cover – or even money off home insurance.

Our final tip is to take the utmost care when inputting your details. For instance, if you are purchasing car insurance, do not overestimate your mileage, as this will push up your premium. Not only can inputting inaccurate information cost you money from the outset, but it also has the potential to invalidate the policy – which means you won't be able to claim if you need to.



Finance articles

  • Comparison site caution: top reasons to shop around yourself

    Insurance is one of those everyday necessities that we all need, whether it's for the car, the home or even to protect our holidays. It can also be a big drain on our finances, which is why it is important to shop around – but should you let comparison sites do the work for you?

  • Save money by joining a civil service employees' club

    Part of managing your finances as efficiently as possible is making use of the offers and discounts available to you. If you currently work – or have ever worked – in the civil service, joining an employees' club can save you a lot of money. Find out how below.

  • How to find the best price for car insurance

    Rarely a day goes by without a media story about the rising cost of motoring, but most of them focus on petrol prices. What is often overlooked is that car insurance premiums have also climbed sharply in recent times.

  • Top discounts for civil servants

    Working for the Civil Service has a number of benefits, including being eligible to join discount clubs that can save your family useful sums each year. Whether you are buying necessities or luxuries, you should find tempting money-off deals.

  • Top reasons civil service members should join a club

    If you're interested in joining an employee club but aren't sure of the benefits of doing so, read on. Here are the top reasons why civil service members should sign up to a club for themselves and their families.

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