The British media is awash with price comparison sites, these sites have revolutionised the way consumers find their energy provider; take out insurance policies; switch broadband or choose a hotel. However is this hype really justified in offering the best customer service and the correct insurance provision? Are customers really being served the best options?
Tradex Insurance, the UK’s leading motor trade insurance and taxi insurance specialists, discusses why their bespoke car insurance policies offer greater value for money and quality than the one-size-fits-all comparison packages.
Giving the personal touch
Comparison sites make their money by taking a commission when customers click through and sign up for a provider's product and service. So far, so good.
But is it? Here at Tradex, we've built up a wide portfolio of motor trade business, from the motor traders home on a part-time basis to larger businesses with their own premises who buy and sell vehicles. Including specialist mechanics, dealerships, workshops and body shops.
The bespoke motor trade insurance policy
Tradex has developed a specialism as one of the major public and private hire taxi insurers in the UK. We provide taxi and black cab policyholders with extensive policies that have additional levels of cover included, that most others charge for as extras.
Unusual cover is also another area of expertise; ice cream vans, funfairs, get you home services, specialist commercial- if it’s on the road, Tradex will consider it.
We’re known to be flexible insurers and proud to be so. That’s why we stay away from price comparison sites. Price isn’t our business - quality and service are.
Insurance Comparison sites can be rife with errors after a review on personal car policies
In 2018 a Which? Magazine investigation reported that price comparison websites offering insurance policies were rife with errors. Consumer body after examining four of the biggest sites stated that millions of customers were “not getting a clear picture from the websites they visit”. They added: “In six out of 10 policies, at least one detail in the price comparison was different from the description in the policy documents.”
It found a catalogue of errors including:
- Erroneous levels of cover for personal accident
- Misleading information about the cover for loss or theft of car keys
- Claims that a courtesy car was guaranteed if a car needed fixing when the insurance policy itself said no such thing
- Claims about sunroof cover being included that were not in the policy
Which? said it was urging drivers not to rely exclusively on the policy details published by price comparison sites. Instead, it recommended making a list of the policy items they most valued and checking them on the insurance provider’s own website.
“We were staggered to see such a high amount of errors across the policies listed on price comparison sites”, said Harry Rose Which? money editor. He called on the sites to “up their game" and make sure that customers knew exactly what they were purchasing.
Tradex: Bespoke Service, Premium Quality
The democratisation of the internet in favour of the consumer is certainly something we champion at Tradex. However we put our clients’ first, tailor-making solutions for all customers.
We’re a well-respected independent broker with sustainable capacity, who work alongside insurers to service niche customer requirements (such as chauffeurs, van salesman, motorcycle couriers and fleet owners) in as flexible a manner as possible. At Tradex, we provide solutions for both insurers seeking a sustainable, professional and knowledgeable broking distribution partner and also onwards access to customers who require bespoke car insurance policies to fit their unique circumstances.
A company that has a growth mindset and is agile enough to pursue opportunities, work hard, fast and smart to become one of the top 50 largest brokers in the country.
You won’t find this bespoke service on a price comparison site.