subject: How To Properly Compare Car Insurance To Get The Best Price Possible [print this page] It has been easier in the past few years to compare car insurance as more websites offer consumers a choice, but beware of traps. Some car insurance comparison websites dont compare at all. They give you plenty of quotes but all these quotes are from just 1 company. Thats not what people sign up for. When consumers use a car insurance comparison website they expect to get a good range of varying prices. Make you make a proper car insurance comparison by following a few simple tricks.
If there is one thing to remember from this article it is - To properly compare car insurance, you need to get quotes from multiple car insurance underwriters and not just from car insurance companies.
Lets go through the difference between underwriters and car insurance retailers.
Car Insurance Underwriter: The underwriter is the company that is taking on the risk. So if you crash your car, it is the underwriter that will pay you out. Because the underwriter is holding the risk and is the one who pays out in the case of a claim, it is the underwriter who prices the insurance policy.
Car Insurance retailer: The car insurance retailer is the company or business that sells the underwriters product to you. The car insurance retailer takes a commission to make this sale. In addition, they provide all the customer service for their clients. The car insurance retailer usually has little or no discrepancy when it comes to pricing.
So why is it important to know the difference between a car insurance retailer and underwriter? Most people just want a few quotes and they will pick the cheapest. Fair enough. But if you get quotes from 10 insurance retailers that use the same underwriter then you might as well be getting just 1 quote. Remember, it is the underwriter than prices the car insurance policy and not the car insurance retailer/company.
So yes, it has been easier to make a car insurance comparison these days because of aggregating websites, but next time you go to get online car insurance quotes make sure the comparison website you go to uses more that 1 underwriter. And if it does only use 1 underwriter, then make sure you go to other website and get more car insurance quotes.
So next time you want to compare car insurance, make sure you are getting a proper car insurance comparison and not a dodgy one from a website with their own interests and profit margin in mind.
by: David Johnston
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