It used to be a case that if you were looking for a cheap insurance quote, you had to ring round several companies, giving the same details each time, and writing down the details to compare afterwards. Naturally, this was a very time-consuming job, which is why many people chose to stick with the same insurer for years regardless of whether they were giving them a good deal or not. The internet has changed all this, and now it is much easier – and quicker – to find out about the best insurance deals. An online life insurance quote can be obtained quickly enough that there’s really no excuse for failing to source a truly competitive deal.
One particular online innovation that has made life easier for the insurance buyer is the comparison website. With these, you simply have to enter all the relevant details once, such as what you are trying to insure, for how much, and for how long, and you will be presented with a table containing quotes from a large number of online insurers.
This is certainly a good starting point in your search, and will enable you to get a better idea of the prices that are available. However, it is worth bearing in mind that some of the cheaper, less well known insurers tend to have very little in the way of a track record. This is very important, as although the insurance they offer will usually be underwritten by a major financial institution, there is no guarantee that their customer service will be up to scratch. In addition, they could have a more stringent than usual claim evaluation team, and dealings with a company that does not have a reputation to protect might prove to be difficult. Therefore, you should always go with an established insurer that has a proven track record.
Another thing to bear in mind is that some insurers do not list on these sites because they do not want to pay the website any commissions. This should, in theory, lead to lower premiums, with the saving on the commission being passed onto the customer, but this is not always the case in practice. Therefore, you should be sure to check the quotes on price comparison websites as well as those of insurers that do not list on these sites.
It might also be worth checking out the websites of the companies that list on the price comparison sites, as they sometimes offer deals that are exclusive to their website. This could mean that you get a cheaper deal than if you had dealt with them via the price comparison site.