Why are price comparison sites offering expensive insurance quotes?

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Why are price comparison sites offering expensive insurance quotes?

We have an 18-year-old son who passed his test almost 18 months ago. Our insurance premium to put him on the policy for our Vauxhall Astra as a named driver originally rose from £200 to £1000.

When renewing, we looked at other insurers and I tapped in the same information. The company we have been with for over ten years wanted £1000, so I went to a leading price comparison site and received 44 quotes, with the cheapest at £1450 and the remainder starting at £1750 upwards. However a well-known insurance company has done the deal at just £600. Why are price comparison site results so expensive?

Asked on 27 October 2012 by DW, Exeter

Answered by Honest John

Price comparison sites and insurers are often no more than insurance brokers which operate on a much higher commission rate than brokers ever did in the past. That's why three different price comparison sites will give you three different quotes for insurance with the same underwriter.

Tags: insurance young drivers

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