There is no doubt that the on-line aggregators have had a massive impact on the car insurance market over the past few years.
This distribution channel has done much to dent the market share held by the traditional high street brokers with promises of cheaper car insurance.
I understand the desire for everyone, me included, to obtain cheaper insurance, however at what cost?
My concern for customers is that they don’t realise what they are buying, often until it is too late.
The aggregators offer lists of cheap insurance often based on a series of assumptions and the customer is expected to read and understand all the terms and conditions before making their choice.
In addition and because of the way that the aggregator model works i.e. price driven, those providers using this mechanism are having to find cheaper solutions, often at the expensive of cover or service and in some instances both!
If looking to buy baked beans you visit the supermarket and select your brand of choice, often there will be an “own” brand or budget variety, easily distinguished by its packaging and price so that you know in advance what you are getting.
The problem with insurance is that in most cases you won’t know the value of your policy until you come to use it, by which time it might be too late.
There are some very basic commercial insurance packages that can be purchased on-line, however what is the impact in the event that this cover is not what you think it is?
The only real value in an insurance policy is the cover and service you receive when you come to make a claim, does this make our offering any more expensive? No!
If comparing like-for-like cover I believe we can supply a competitive alternative and more importantly; peace of mind.
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