Not altogether happy about home insurance choices
Posted on July 04th 2008
Defaqto, the financial research company, has published a report pointing out the pitfalls of using aggregator (also known as comparison) sites for choosing home insurance.
At the moment, none of the sites can compare all of the products currently on sale, which leaves customers a chance to look at most, but not all, policies.
The other problem is that they only rank products by overall price, which may not be what the customer needs - being able to search for features would be easier for some people (such as policies which offer discounts for having an alarm fitted).
Defaqto's general insurance consultant Mike Powell says: "The home insurance aggregation market is no where near as developed as the car insurance market.
"For the consumer, it appears that there are a number of sites available. Some of the so called aggregator sites do not allow the consumer to include cover for their possessions outside of the home - this is a major area that consumers may need cover."