The advent of the internet has made price comparison easier and simpler than ever. Now day's we can go online 24 hours a day 7 days a week and compare prices on a large array of products; financial services are no exception.
This is great right? It means we can find the best deal quickly and without bias.
Unfortunately the answer to this question is often no. In some instances you, the consumer, can actually end up getting a worse deal through a price comparison site than you would going directly to the provider or to your nearest financial adviser.
Price comparison websites can fail the consumer in a number of ways including:
- Financial products can and often are complicated. Many of us don’t have the experience or expertise to select the product best situated to our particular circumstances. This can lead to the selection of a less than suitable product which may result in negative consequence further down the line
- Price comparison websites will often have a limited number of providers featured on their panel meaning you may not be getting a truly whole of market comparison
- Product providers knowing that the competition for sales on price comparison websites is fierce and that they usually need to come out the cheapest to make a sale will strip down the features of products they sell via price comparison websites in order to be able to sell the product cheaper
- Some product providers only exist in the price comparison world. The products they provide are often very limited in features and the providers' goal will be to make cheap sales via price comparison sites while providing little in the way of future service. Would you like to find yourself needing to make a claim on an insurance policy only to find the company your purchased it from no longer exists?
At ExpertCompare we don’t think this is right, we believe people deserve a true comparison, not just of price but also of features and suitability. We work with some of the UK’s leading brokers and financial advisers to ensure people get just that.
When you make an application through ExpertCompare you will receive a true market wide comparison, not just of price but also of the features included with a product and that products suitability to the particular circumstances.
Our service is without obligation and you will only be charged where a product is successfully arranged on your behalf.