Simon Read: Comparison sites deserve to be investigated
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Your support makes all the difference.The City watchdog has launched an investigation into whether people are being duped into buying inappropriate insurance policies by the UK's growing number of price-comparison websites.
Some 14 sites will be investigated to find out whether the way they present information gets consumers the fairest deal.
Comparison sites have been a boon to consumers. They have helped millions get cheaper car and home cover and allowed them to shop around at the touch of a button, rather than having to contact several different insurers themselves.
But there is a major risk. It's this: if you simply choose the cheapest cover you could be inadequately insured. With many cut-price policies coming with several exclusions or high excesses (why else would they be so cheap?) buying them can prove to be a costly mistake if a claim is later turned down.
Any insurance you buy should be based on what you need, not what you're flogged. As for comparison sites? It's time they came with a large wealth warning.
s.read@independent.co.uk
Twitter: @simonnread
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