Overview of UK motor
insurance brokers
There are an awful lot of motor
insurance brokers out there. Nowadays, many, indeed most - if they get
car insurance from one of them - will often find that cover via a price
comparison site.
Because price comparison sites check loads of brokers and direct car
insurers at once with one form, they now dominate the market in the way
that brokers were ever popular in the past. And they dominate that
market for the same reason that motor insurance brokers dominated it in
the past - people like to save money on their renewal quotes.
This is despite the time-honoured tenet that if you pay much less, you
get much less. Even so, people are ever-willing to buy cheap and then
cross their fingers in the hope that they will never need to claim on a
such a policy - assuming, that is, that any quality of cover
considerations are entertaned at all before they buy a budget policy
that will serve them poorly in an accident.
Despite the obvious risks of buying such cheap cover, the popularity of
price comparison sites is testimony to the prevalence of this approach.
The essential point here is that if you buy the cheapest car insurance
out of thousands of prices, you should expect a high excess, capping of
various payments that are actually covered and lots of policy
exclusions. Also, if you need to claim on a very cheap policy, you can
expect some very aggressive loss adjusting by the insurer. This may
make the process of administering the claim more complex and stressful
than it might otherwise have been.
Because of the price comparison site's focus on (low) price and their
limited policy information, unless you are choosing almost exclusively
on the basis of price, they are not as helpful resources as people like
to imagine. Indeed, we generally recommend to people that they check
out insurance companies direct to determine what they are getting
before selecting any policy to purchase.
Because price comparison sites list so many quotes but don't actually
offer a basis on which to make an nformed choice, arguably, they
provide more confusion than clarity, guven that (as reviewed above)
choosing purely on the basis of price is hugely unwise.
In fact, because of these problems in using a price comparison system,
we recommend buying direct from a leading car insurance provider where
policy features tend to be impressive while prices for similar policies
are always close. For this reason, the need to check prices for
yourself is much less acute than most appear to believe.
To compare
car
insurance from these top insurers, you can start with this
car
insurers listings site. We can recommend that you do so.
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