Comparison websites for insurance – we’ve all seen them. Often backed by expensive advertising campaigns, like the annoying opera singer or the cute meerkats, they have grown in popularity massively in recent years.

Indeed, research says 85% of consumers who can access the internet have used a comparison website at least once.

But there is a dark side to these sites too.

Now I can hear you say: ‘well, he would say that’ and yes, as a broker who wants to sit down with you and discuss your insurance needs, I am bound to be slightly biased.

But my concerns with comparison websites and indeed any process that encourages people to sign up quickly to a one-size-fits-all policy are genuine and based on the belief that people end up with a policy that isn’t right for them, doesn’t provide the cover they need or is too expensive.

Joint research by Fairer Finance and the Finance Foundation has discovered that the pressure to come high in comparison charts is adversely affecting insurance cover offered on comparison sites.

Levels of cover are being reduced and the excesses charged – the fee you pay on some aspects of your cover if you have to make a claim – have been increasing, all to keep the overall price down.

The effect of this is obvious. You might not be covered for things you think you are and if you make a claim, it might cost you more than you expected.

At the same time, the research also found that the price of amending or cancelling a policy has also risen.

If you add to this the fact that not all insurers go on comparison websites – meaning you aren’t looking at the whole of the market – and you get a clear picture that they aren’t really the best place to make an important decision on insurance.

All these things aside, my own main concern with comparison websites has always been whether or not the policy you buy truly matches what you need. There are so many policies out there and so many different variables in what people want from their insurance policy, that it is hard to create that one-size-fits-all policy I mentioned earlier. Instead you might well end up with a policy that meets some of your needs fully but others, not so well.

It’s difficult, I know. Insurance is pretty boring and if you can sort out your policy in 10 minutes and a few clicks AND get a cuddly meerkat as well, it is bound to be tempting.

But if you want the right policy for you and your needs for the future, I’m afraid there is still no substitute for a coffee and a chat…

The kettle’s on, call me on 07767 692653.