Warning: Getting Insurance to Suit You
Posted on June 14th, 2011
A recent report by the FSA (Financial Services Authority) has raised issues that have been widely reported in the press concerning the validity of using insurance comparison sites. Everyone knows that they allow people to see various quotes from a huge variety of providers, including mainstream and specialist providers of home insurance, motorbike insurance, van insurance and cheap car insurance. Most people view comparison sites as positive because they encourage competition and empower consumers to find insurance that is well within their budget rather than stretching it to the limits. However, there have been incidence that prove it does not always work for people.
The FSA had received reports of comparison sites pushing policies on individual drivers or homeowners that were inappropriate. Rather than taking the details inputted by consumers, some sites were actually offering policies that were not appropriate for individuals but instead were recommending those that commission was higher for. In effect, these were not valuable for the consumer but rather for the site itself. This obviously flaunted any form of fairness. There were also reports of some sites offering too few details so that the consumer actually had no clue what he or she was getting. Unfortunately, many of the complaints actually came after the driver or homeowner discovered it would not cover them when they needed it most.
It should be noted that this does not apply to all comparison sites. There seem to be a few that violate the guidelines implemented by the FSA in favour of making money. However, Powerseeker is not one of them. We always offer cheap car insurance in a way that abides by FSA guidelines and so can offer consumers peace of mind rather than worry because they do not have the right cover on their home insurance, motorbike insurance, van insurance and cheap car insurance.
However, there are certain things you can do to make sure that you have as great a peace of mind as possible. Obviously using a compliant comparison engine is a great starting point but you should also make sure that the insurance you do take out is appropriate. Check that your cheap car insurance or home insurance covers all your wants and needs and indeed applies to your situation. Read the small print to check for any clauses that apply to you. In short, make sure that you know exactly what you are getting rather than just checking the price of premiums and you will soon find that you get the best deal possible.
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Tags: Insurance, Insurance Suit
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