Insurance Comparison Websites: Are They Reliable?

It is always recommended to do research and shop around online before we purchase a product or service for the first time. Insurance comparison websites can be of great help when looking for coverage. After all, we want to make sure we are getting our money’s worth.    

When we look for insurance, though, it can get a little bit trickier. Since we want to make sure we get the best policy, it only makes sense to compare prices and look for alternatives. We also want to spend as little time as possible on this task. That’s where insurance comparison websites come to play.    

If you’ve never used a site like this, the first thing you need to know is that you will need to have your information at hand. Insurance comparison websites help you obtain different quotes from different companies. To filter out options that might not be relevant, you need to answer several questions. Depending on the type of policy you are looking for, the site might need more or less information. Details about the property that will be insured are key. Once you fill out the information form, comparison websites will show different quotes from different insurers, letting you decide which would be more convenient for you.    

One of the main concerns users have about comparison websites regards their reliability. Some of these websites belong to insurance companies, and some say they tend to push users towards their products. However, the owners of comparison websites have stated many times that their platforms are unbiased and that the results are based on the users’ answers and needs.    

Another common concern is that the prices offered by companies might differ from the ones on the comparison website. However, this might be because some insurance companies include several add-ons and extra policies. We always recommend that policyholders compare prices using different websites instead of only one. This will give us a better understanding of prices and rates available.    

Some of the biggest websites are pretty safe sites, and they all use encrypted information systems. This way we can make sure that our personal information doesn’t end up with a third party. However, asking for a quote on a comparison website might leave a mark on our credit history. We shouldn’t worry much about this though. Even when they might check our credit report, it is mainly to confirm the information we provided. When this happens, it is considered a “soft search”, and won’t affect your credit. If we apply for a credit card, a loan, or a mortgage, then it generates a “hard search” and that one will affect your credit.    

You don’t need to be particularly cautious when you use an insurance comparing website. Just keep in mind that, just like with any other website, scams are still possible. Always double check before you enter your personal information.