Selecting the right insurance company can be a difficult task, especially without any professional industry knowledge. At CARS, we want to equip you with sufficient details to enable you to make an informed decision.

In the first instance, individuals usually look to price comparison websites such as GoCompare, uswitch, Compare the Market and Money Super Market to review and compare the policies offered by different insurance providers. Comparison sites allow you to get quotes from multiple providers in one space. Most people then set filters to rank the policies from the cheapest to the most expensive. However, there may be several reasons why comparison sites aren’t always appropriate for your circumstances:

• Ranking – Comparison sites often rank entirely in terms of pricing and may not consider other important factors, such as quality and customer satisfaction ratings.

• Inclusivity – Some companies choose not to advertise on comparison sites at all, meaning you may not gain an accurate representation of all policies available in the marketplace.

• Sponsored Listings – Some sites are sponsored by insurers, meaning they’ll put the policies from those insurers near the top of their listings. Without extensive care and due diligence, this could result in a customer purchasing a more expensive policy, or one which is not aligned to their needs.

Alternatively, you could choose to explore insurance companies via direct channels. Factors to consider include:

• Reputation – Research the companies you’re interested in, with a clear focus on their reputation and financial strength. There are a number of different strength rating agencies, such as Moody’s and Standard & Poor’s, which provide detailed reports and comparisons of companies across the industry.

• Ease of Interaction – Gain an understanding of how you will be able to interact with the company. Some providers offer ‘live chat’ and 24/7 customer service facilities which may be of particular interest.

• Recommendations – The best recommendations are often those which come from family members, friends and colleagues. Similarly, you should consider exploring a company’s reviews to obtain details of other first-hand experiences.

Whether you purchase a policy via a comparison site or direct, you should consider the following points:

• Voluntary Excess - This is the additional amount you will pay if you make a claim. The higher the excess, the lower the premiums. You must select an excess that you can afford to pay in the event of a claim.

• Approved Repairer – Some insurance companies suggest that you may have to take your car to one of their approved repairers. They may not give you sufficient information on these repairers or their customer reviews. In reality, it is your right to take your vehicle to a repairer of your choice. There may be an additional fee for this, but please give us a call if you’re concerned!

• Loan Car – You may require access to a loan car if you’re without your car for a period of time. However, it is important to note that you may only be able to access a loan car from your insurance company if you use one of your insurance company’s approved repairers. Should you take your car to a repairer of your choosing, they may be able to offer you access to a loan car.

We would advise going to a local insurance broker to discuss your policy requirements with them.

If you still find yourself confused after reading the above information, don’t hesitate to give us a call!