Afternoon all, my wife has just looked at moneysupermarket.com for the best quote on a new car and im lost as to where the figures come from?
first car we was intrested in was only £4500 second hand, the above site found the best deal was £787 py around £65 pm for a 1.4cc engine
We have just seen another car the exact same from another dealer but £1500 cheaper cause its 2 years older and the best deal moneysupermarket.com found was £1300? its the same size engine the same car with no modifications the same details inputted but the car that has a quote of £1300 is much cheaper then the first car.? so how is it that they can charge £500 less for a more expensive car? are the prices just made up? both the quotes was done within 24 hours of each other.
I use all the 'compare' websites for vehicle insurance nowadays. Even the same insurance company can provide different quotes for the same policy and conditions, depending where you check.
Last year I had a renewal notice, and checking a 'compare' website, found a quote from the same insurance company cheaper. Phoned the insurance company up, and they price matched instantly. They have now retained my business for another year.
I pity some of the younger generation who have 'bangers' which they cannot insure. One particular incident the other day in a newspaper. Standard small first time car for an 19 year old, that he paid £300 for, and the on-line quote was £27.000.00.
Use the 'compare' websites by all means but go directly to the companies that show up as cheap and you will probably find that you get an even better deal. I have done this for my wife and son and saved £30 & £70 respectively by going direct. The compare companies must be earning their money from somewhere, they can't run for free!!
I queried with one company why their quote changed by a few pounds everytime I re-entered my details.
The advisor told me that their prices changed by the minute as they passed on much of the risk to the wholesale insurance market which operated much like the stock exchange with continual price movements up and down.
I think that you will find that the 'compare' websites charge the insurance companies fees for advertising and administration. When I made a claim about three years ago, the claims line was initially diverted to a company called BSL in Peterborough, then eventually re-diverted to the actual insurance company. It would appear that BSL were the actual 'compare' company!.
At the same time, it would appear that extra documention etc charges or fees are not necessarily those of the original insurance company, but I could be wrong?.