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Using Comparison Sites For Landlord Insurance Quotes In 2024

The British are increasingly becoming a nation that relies on comparison sites to find the best and cheapest landlord insurance quotes. However, it’s important that users are aware of the advantages and disadvantages of the service.

Price comparison websites have gained popularity in recent years. But the lowest price offered does not necessarily lead to the best overall cover. Are landlord insurance companies focusing too much on offering the cheapest cover to be competitive on price comparison sites? Below we look at the advantages and disadvantages of the websites.

The Pros Of Using Comparison Sites

1. To save money

By reviewing quotes from hundreds of insurers and being able to sort them by price, the customer can choose the cheapest quote based on the criteria provided. Price comparison sites often feature many lesser-known insurers, so you may find a quote from a smaller company that can save you a lot of money. However, the cheaper offers may provide less comprehensive cover and a higher excess, but still provide important cover for a lower budget.

2. Convenient & Time Efficient

With a few clicks of the mouse, you can obtain hundreds of landlord insurance quotes without much effort. This way, you can collect a large amount of condensed data and save yourself the time of sifting through dozens of individual websites. Comparison sites also allow you to create an account and save all your data so you do not have to re-enter it every time you want to search for different policies or switch providers. After all, time is money and very valuable, so saving as much as possible is a great advantage of these websites.

3. Wide Variety & Choice

Price comparison sites are big business, and there is a lot of choice. All the sites ask for slightly different information and don’t all have the same insurers on their books, which means the list of quotes doesn’t cover the same companies and so provides different quotes. This means that several quotes can be used side by side to find the best deals and check the accuracy of the figures given.

The Cons Of Using Comparison Sites

1. Comparison Sites Charge Fees

The companies listed on these price comparison sites often pay a fee when they are selected by a customer. How they are paid depends on the product. Comparison sites may receive one-off fees when a customer switches suppliers, or when customers simply click through to a supplier. For some products, they receive a commission, which is a percentage of the cost you incur for the policy, and this can be as high as 20%. This is possible because the fees are often lower than what the companies would have to pay for an ad on TV or other advertising. It is often the case that companies are not allowed to undercut the prices of the comparison sites they work with.

2. Not All Landlord Insurers Use Them

Not all companies are represented on price comparison websites, which means you may miss out on a quote from one of the more reliable companies or even from the market leaders in a particular type of insurance. Direct Line, for example, does not use price comparison sites on the grounds that it is a commercial company and not a public service. It also stresses that a comparison should be about more than just price, as Direct Line offers other benefits such as no-claims discounts for second drivers. This means that no matter how much you search, a comparison site will never give you the full picture and you may not always get the best deal. It’s also important to remember that some comparison sites are owned by the insurance companies they advertise. Confused.com, for example, is owned by Admiral.

3. The Personal Touch Is Missing

When you can research and take out insurance online with a few clicks, many end up with a policy that doesn’t quite meet their expectations. The lack of a direct point of contact can often be problematic for those looking to purchase insurance, as certain exclusions and conditions can leave many without coverage. This is in contrast to taking out a policy over the phone or in person, where the terms and conditions can be transparently outlined and any questions can be asked directly.

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