Can you save more money by avoiding price comparison websites?
Have you switched on the television recently? It’s almost impossible to make it through the day without seeing an advert for a price comparison website. Perhaps that explains why more and more people are using them...
Recent statistics suggest that around 45% of people now begin their search for travel insurance on a price comparison website. 17% of those then go on to purchase their policy through one of these ‘web aggregators’.
So do these price comparison websites actually save you money? Can they really help you search out the best policy? Let’s take a look.
Price comparison websites take a large slice of premium profits
Have you ever wondered how price comparison websites fund those prime time television advertising slots? When a customer buys travel insurance through one of these websites, the web aggregator will take up to 30% of the premium for themselves. That forces some insurance providers to charge more for the policies they sell through price comparison websites, just so they can maintain their own profit margins. Figures suggest that nearly 1 in 5 people currently buy their holiday policies through web aggregators. If that’s true, there are a lot of travel-fans who could potentially save money by visiting their preferred insurer directly.
Not all travel insurance providers are on price comparison websites
Price comparison websites offer you a lot of choice. But they don’t give you the full picture. There are lots of travel insurance providers who aren’t even on price comparison websites. Like us! Any one of these providers could have the policy that’s perfect for your travel plans as well as your budget. Why risk missing it?
Our advice? Shop around!
Price comparison websites can be a great place to start your search for travel insurance. But it can also be worthwhile spending an extra half an hour doing your research elsewhere too. And if you do struggle to find something that beats a policy you found through a web aggregator, try and remember to go directly to the insurance provider’s website to get another quote. You could find it’s a lot cheaper.
Of course, we’re convinced that no holiday insurance travels better than ours! Decide for yourself at www.world-first.co.uk.