Young people looking for their first car insurance have it tough nowadays. A new driver under the age of 21 is unlikely to get insurance for under £2000. Young people present a greater risk for insurance companies because they are statistically more likely to have an accident. For this reason, insurance premiums are weighted heavily against them. In the fight against rising insurance costs, price comparison sites are a great way of searching lots of insurance companies at once to compare and contrast the products they offer.
What is a Price Comparison Site?
A price comparison site gathers all the latest data from price feeds issued by insurance company and presents the user with an online interface that can be used to compare lots of insurance companies by entering the required details once. The site then produces the results and allows the user to sort them into order based and user-defined criteria.
Can I Trust a Price Comparison Site?
How Does it Work?
Price comparison works on the principal that by entering the details of your request into one online form, these details can be used to query a large number of insurance companies at the same time and thereby saving you lots of time and even money by you not having to conduct an exhaustive search of individual companies and enter your request every time you try a different company. It is not unusual for a price comparison site to return results from as many as 100 different insurance companies.
For your part, you need all of the details about yourself, your driving license and the car you are proposing to insure ready. The online forms are relatively simple and user-friendly. Once you have entered all of the required details you click a button to start the search process. The rest is done for you.
What are the Benefits?
The first and most obvious benefit for you is that by sending your enquiry to a large number of companies, the comparison site is much more likely to secure you a better price. Some of the bigger sites claim to save as much as £400 on average. For a young person looking to take out their first policy, this is quite a significant saving.
Other benefits include the ability to save your search and come back to it at a later date and also there are usually links to some very useful information to help you make the right choices.