Comparison Websites? How Do They Work?

[SeanW]

So it's that time of year again...insurance is due in a couple of weeks time...

I'm curious as to how the hell they work?

You input your details, check it all over and hit the button to show you the quotes - wonderful!!

You then see some pretty good prices, and decide to check out the site.

HOW can it change so much? Seriously - I input annual mileage at 8000 miles for SDP&C, car value at about £7k, 1 at fault accident and no convictions, car kept overnight on the street at home, 1 modification (parking sensors).

The quote summary however:

4000 miles for SDP

value £5,500

1 NOT at fault accident

Car on driveway/off the street

No modifications

I did Dad's insurance for him the other week...Tesco are even more sneaky!!

He's been nabbed for speeding a couple of times - so input the details on the comparison website (Month-year, code (SP-), points (3, two of), fine (not worth the wrath of Mother), ban (nil) etc)

Tesco wanted to know the exact date - and had defaulted to the 1st of the month. Went through and updated the dates.

The new quote was £150 MORE - for adjusting the dates of the offences by 2 days & 10 days.

Rang them up to have a !Removed!..."Ah, well, it does state on the website that certain assumptions are made, and that it's up to you to correct them"

Fine, fair enough, but how does a day or two affect a premium?

"You're no longer subject to the comparison website criteria, it's now our own"

I think I called them a bunch of corrupt liars and informed them that they could shove their quote up their scamming...nostrils...

So far, my best quote is still with the made-up quote company I first mentioned - £516 :-(

Dad got insured through Adrian Flux, but we're now having problems with Zurich sending him his proof of no claims :-/

I hate insurance companies

[jeebowhite]

Basically it works on a score system, every question ranks between one and X points, (so far arguments sake say between one and ten).

Wheres the car kept - garage - perfect - 1 point through to public unprotected car park / street - uhoh - 10 points.

How many kids do you have - none - 1 point - 2 or more 10 points

so you have a range there from 2 points (cheapest insurance, to 10 points expensive). One what tend to happen would be each insurer comes along and says "today we would sell at £15 per point" and of course every "wrong" answer you give, adds more points and more premium.

As soon as you deviate beyond their script, they would add more onto it, and once your out of standard practices and the remit of the standard comparison, then you are at their mercy. Everytime you change it, your just giving them extra money. I doubt its the fact that you changed days, its more likely because its a total of 12 days more recent than they thought, so its more like an admin charge for having to correct their assumption.

[SeanW]

I appreciate that - it's basically a honey trap!

You get the nice, attractive price shown to you - so you go to buy it...ahh, hang on - this insurer has tweaked the script a smidge...aaaannnndddd you're now subject to a whole different set of criteria for the same product for the same person on the same car...all because some money grabbing so-and-so wants to squeeze more money out of you!

Believe me, I am well aware of the points system! Despite massive improvements in my area over the last 15 years, with very little car crime (in comparison) - I can't get a decent price because I don't have a driveway...

My rant was about how the insurers keep moving the goalposts - meaning us poor sods who want to get insurance cheaply can't...bit of a bugger seeing as it's a legal requirement!!

In my opinion the industry is corrupt at a core level (hardly surprising seeing as it started as gambling).

Even more unfortunate is that the people who bear the brunt of it are those who cannot change it.

I'm not saying get rid of insurance - but it would be nice to see it slightly more regulated or standardised in our favour

[jeebowhite]

Sorry matey clear misunderstood!

Yeah it is irritating, thankfully I don't have points or associated problems.

I think your right though in the entire premise though it all needs resolving!

[Stoney871]

Insurance can vary for minor details

What side of the road you live in.

Postcode being in a higher risk area.

Job.

Etc.

I did an online quote once with M&S and stated I had a non factory alarm, as I couldn't say if the alarm was Thatcham approved they were going to arrange for someone to check the alarm at a cost of £100.

When I asked them what difference having an alarm on my car would make to the policy I was informed it would save me a grand total of------

£10.

Suffice to say I declined the alarm check.

[SeanW]

I guess I can answer the question "what difference does a day make?"

About £75 a ticket for a 58yo bloke who started driving at 17... (granted, he shouldn't be such a naughty boy and stop getting nabbed for speeding).