Despite the market already being hugely overcrowded it seems companies are still being attracted to the money-spinning market of car insurance comparison. The industry already boasts market leaders such as confused and moneysupermarket who between them compare close to 100 percent of UK car insurance companies.
With sites such as uswitch, gocompare and comparethemarket also making an impact over the last 12 months customers have never had so much choice when its comes to comparing car insurance quotes. The UK car insurance market can be very profitable for such aggregator sites if they get it right and for this reason the market continues to attract new sites on a continual basis.
These comparisons sites can be extremely useful to customers looking for cheap car insurance, a top comparison site can be a great way to save time and money. Those sites that have established a long-term reputation have succeeded through their ability to give people what they want.
As the number of car insurance comparison sites increases the worry for the customer is the quality of the results diminishes. With companies rushing to bring out their car insurance finders as quickly as possible in order to cash in on the comparison boom it becomes more difficult for customers to know which will provide the best quotes.
The latest newcomer to the market came via the huge brand of Tesco. They recently launched tescocompare.com and are looking to use their marketing power and strong customer base to establish themselves in the comparison market by firstly targeting the car insurance sector. Providing quotes from a stable of insurers in partnership with The Royal Bank of Scotland, Tesco face a tough battle to overthrow the recognized car insurance aggregators but the potential profits make the opportunity too good to dismiss.
With tescocompare.com still in the infancy of its launch another potential aggregator also looks set to hit the market shortly. Thecomparisons.com has been stirring up interest online with its promise to compare quotes for the entire family. Their homepage says they will be ‘coming soon’ which will add yet another player to the price comparison arena.
With so many aggregators on the market customers will need to balance the obvious benefits of finding great money-saving deals with finding a comparison provide they can trust and who results in which they can put their faith.