This week I had to renew my car insurance. It’s due in four weeks time, so I organised it exactly four weeks in advance. My existing insurer is Hastings Direct – but I have yet to receive my renewal letter. I visited the following different websites to get quotes: Aviva, GoCompare, ComparetheMarket and Moneysupermarket (Aviva are not listed on comparison sites). The Aviva quote was something like £430 so that one was out). My existing premium is £305, which I paid outright.
I want to show you two screenshots of prices I received from comparison sites. One is from ComparetheMarket and the other is from Moneysupermarket. Please keep in mind that these quotes are for the same car, the same level of cover, the same voluntary excess and the same mileage. All details are the same.
Moneysupermarket car insurance quote
Here are the prices from Moneysupermarket. The lowest price quoted (1st Central) was £314.08. Hastings Direct quoted price was £348.57.
Comparethemarket car insurance quote
Here are the prices from Comparethemarket. The lowest quote on here was £248.29 – which is £65 cheaper than on Moneysupermarket.com. And Hastings Direct was quoted at £270.98. The cheapest on Moneysupermarket, 1st Central, was nowhere to be seen on ComparetheMarket. It’s also worth noting that People’s Choice brand is owned by Hastings Direct, as that link takes you to the Hastings Direct website.
The salient point here though is the difference in pricing for Hastings Direct. On Moneysupermarket it was £348.57. On ComparetheMarket it was £270.98, a full £77 cheaper.
Remember this was for the same car insurance spec, same profile, same driver, same level of cover. I can only put this down to the relationships between the comparison sites and the insurers. Maybe the comparison sites waive commissions for some periods, or reduce them. Maybe they hike commissions for some insurers or rank them differently.
However it works, the point is this. Don’t just visit one comparison site to get your car insurance. Take the time and effort to visit two or three of them, or even all of them. They are NOT all the same.
Addendum: I received my automatic car insurance renewal reminder from Hastings Direct today, 10th September 2018. The renewal quote was £399.06. This is even after I’d already secured next year’s car insurance through Hastings Direct for £270.98. If you ever needed evidence that the automatic renewal is just a way to increase your premium with no direct correlation to market prices, this is it. Car insurance companies should be charging you less for your loyalty, not more.