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Revealed: The Reasons Why You Shouldn’t Use Comparison Websites

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Comparison websites have been under much scrutiny in recent months. Many reports have emerged claiming comparison sites have been ‘misleading’ customers into selecting a deal that is not right for them, and also not the cheapest option.

Limiting your search results

Misleading language is said to have been used online to trick customers into selecting a deal from a limited list of options instead of the full range of choices. This was a claim made by the Energy and Climate Committee. It has been known for comparison sites to hide the best deals, instead showing a small selection of offers on which they may receive more commission.

Disguised added costs

The Financial Conduct Authority (FCA) has found that payment options are often hidden by comparison sites. Consumers are very often given the option to pay for their insurance on a monthly basis rather than in one lump sum. However, spreading the cost in this way can add interest to the total bill. The issue arises when customers are not made aware of this extra cost.

Making assumptions

Comparison sites often do not ask, or take into account, your specific needs. They may give you a quote based on their assumptions of your needs being those of their average customer. Therefore if you have specific or niche needs, you may find yourself paying much more than the quoted price or, disastrously, see your insurance voided when you need it most.

Compromise quality for cost

Quotes given by comparison sites are often sorted by price. They are not, however, sorted by value for money. You shouldn’t be looking for the cheapest option but rather the option that gives you the best value for money. When dealing with any type of insurance, and especially landlord insurance, it is so important to find a quality insurer who will assist you in protecting both your income and your investment.

You’ll miss the best deals

Price comparison sites don’t scan the entire market for deals and often the best policies can be found outside of price comparison sites. It may seem that the cheapest option on your price comparison site is the best in the market, but in fact you aren’t seeing many of the other companies and the policies they can offer.

Unlike with price comparison sites, UKinsuraceNET provide not only quality policies but a quality service too. We don’t make assumptions on what you need, instead we provide free advice and guidance on which policy suits your individual needs. We don’t hide any of our costs and we always aim to offer our customers value for money. It is for this reason that nearly 90% of our customers stay with us.

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Sources:

http://www.thisismoney.co.uk/money/bills/article-2971990/Consumers-duped-switching-energy-tariffs-misleading-price-comparison-sites-compensation-MPs-claim.html

http://www.express.co.uk/finance/personalfinance/576476/REVEALED-How-insurers-leave-you-out-of-pocket-watchdog-orders-review

http://www.which.co.uk/money/money-saving-tips/guides/price-comparison-sites/top-tips-for-using-price-comparison-websites/

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