The Misleading Insurance Comparison Sites
It has been found by The Financial Services Authority that insurance comparison sites have been displaying data and deals that are out of date.
An examination of insurance comparison sites took place to see what these, often, controversial websites are up to. The findings were that the use of the broker data was valid, but how the information about policies was conveyed to customers was skew.
In recent year’s, insurance comparison website have flourished with the consumers demand to find the best deal on insurance as there are so many options out there. Around 30 million car insurance quotes have been made in the last year on these sorts of sites; this is a phenomenal figure.
The Financial Services Authority, studied the data given out on these sites and found that information, like compulsory excess levels, was not included in the price, or even erroneous.
BIBA (British Insurance Brokers’ Association) were all for the review because a report done asking people who had used insurance comparison sites what they thought showed 84 per cent thought the accompanying information to the polices was not apparent enough.
