Can I find the best-value deals on price-comparison websites?

We’re all always searching for ways to save on bills and insurance premiums. So, can price-comparison websites like Compare the Market help? And how can you make the most of comparing with us? Follow our top tips for finding the right deals on insurance, loans, credit cards, energy and more.

Daniel Hutson

From the Motor team

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Posted 04 OCTOBER 2021

Comparison sites can help you save

Used the right way, we can help you make significant savings on your car insurance, home insurance and energy bills, to name but a few. Here’s how to make the most of Compare the Market.

1. Search for the right thing

Make sure you look for quotes that are appropriate to what’s right for you. For example, it’s no good looking at a list of basic third-party car-insurance prices if you want comprehensive cover; or looking at life-insurance premiums if you need combined life and critical illness insurance.

2. Don’t just focus on price

Cheap insurance can be tempting, but the basic monthly or annual premium we show you shouldn’t be your only consideration. When buying insurance, you’ll also want to think about things like:

The level of cover
The policy excess (the amount you’ll have to pay towards a claim)
Whether you want any add-ons to your cover

Take car insurance, for example: the lowest-cost policy isn’t likely to include extras, like a replacement car if your car is damaged in an accident.

Then there are more complex types of insurance, like life insurance and critical-illness cover. Here, you need to pay close attention to the level of cover offered so you get what you need.

Plus, prices alone won’t tell you anything about what kind of customer service you can expect.

3. Check our assumptions

To save time when you compare some products with us, we make what we call ‘assumptions’ or 'statements’ about facts that apply to you. These include things like you not having convictions, or that your home has not been flooded.

You’ll be asked to confirm these assumptions are correct. But if they’re not – if you have been convicted of an offence, for example, or you live in a house that has subsidence or live on a flood plain – your insurance policy might not pay out if you make a claim.

So double check our assumptions, otherwise you could end up buying a policy you can’t claim on.

If the assumptions don’t apply to you, you can edit them. We can then show you quotes that are suitable for your circumstances, if these are available.

4. Read the small print

Never buy an insurance policy without reading at least the policy summary, to make sure it’s right for your needs and circumstances. If you’re not sure what a policy offers, contact the insurance provider directly before deciding whether to go ahead and buy.

5. Don’t see quotes as advice

Listings on price-comparison sites aren’t designed to provide professional financial advice. A policy might stand out in a search, but this doesn’t necessarily mean it’s a good fit for you, and unfortunately, we won’t be able to fix it if it turns out to be unsuitable.

Keep comparing policies regularly

Comparing doesn’t stop once you’ve bought your policy. If you simply let your insurance auto-renew, you could miss out on some great deals, so keep comparing on a regular basis. If you use AutoSergei, he’ll do the hard work for you, letting you know if there’s a better deal before your next car-insurance, home-insurance or energy renewal.

And for products like life insurance and critical-illness insurance, check regularly whether you can get the same cover for a better price by switching insurance provider.

Top tip

Creating an account with us will save you the hassle of filling in your details every time you compare. We’ll keep your details and previous quotes on file, so you can get a quote faster.

Sign up online or via the Meerkat App.

Did you know?

The Financial Conduct Authority (FCA) has introduced auto-renewal rules to stop home and car-insurance providers increasing prices for existing customers on renewal, while only offering their most competitive deals to newbies.

Under the new rules, most insurance companies will be required to offer the same price to existing customers as they would to new customers. The FCA aims to make the insurance market fairer and estimates that consumers could save £4.2 billion over 10 years.

Frequently asked questions

How do price-comparison sites make money?

If you use Compare the Market to find a product and go on to buy the policy, the insurance provider will pay us a flat fee or a commission percentage. Our price-comparison service is free for you to use and doesn’t affect the way we rank our products.

What can I compare through Compare the Market?

As well as insurance, we offer a price-comparison service for a whole range of essential products and services, including:

Broadband and mobile phone packages
Savings and current bank accounts
Domestic and business energy
Credit cards
Loans
Mortgages

Why should I use a price-comparison site?

Save time
A price-comparison site can give you a quick, easy and impartial overview of suitable quotes in a matter of minutes. It saves you the hassle of trawling through a whole bunch of websites in order to find the right product for you.

Added perks
Many comparison sites also offer rewards, like our Meerkat Movies and Meals, which you can claim when you take out a qualifying product – so that’s a nice little bonus.

Save money
Ultimately, price-comparison sites could help you save money by matching your needs to the right products. But don’t just take our word for it – for example, UK energy regulator Ofgem reckons that using a comparison website to compare and switch energy supplier or tariff is a good way to save money on your gas and electricity bills.