Price comparison sites are failing to impress, new Which? research shows. None of the 11 top sites we scrutinised attained an overall customer score of more than 44%.
Price comparison site Moneyfacts.co.uk achieved the top score for customer satisfaction, with 44%, while Moneysupermarket.com got 43%. At the other end of the scale, Moneyextra.com scored a woeful 30%, with customers particularly unimpressed with the transparency of results, quotes provided and the range of options on offer. The results coincide with a Which? investigation into price comparison sites that revealed too many providers are failing to offer products that suit customer requirements.
Lower scores than last year
The comparison sites’ shaky results reveal a worrying trend, with the average satisfaction score falling 4% from 46% to 42% since last year’s survey. Key issues contributing to the low scores include the liberal use of assumptions – that can add to the premium quoted for car or home insurance, or even invalidate a policy – and pre-selected default voluntary excesses (the amount the policyholder would pay up-front in the event of a claim).
Which? money expert Dan Moore said: ‘Price comparison sites have a major role to play in providing consumers with a range of financial products. However, if they are to really win over the public, they should ensure that they are transparent and do not lead customers to buy a product that has elements they don’t need or want, or include assumptions that could cause problems in the event of a claim.’
Price comparison sites rated
The table shows how Which? members rated 11 price comparison sites. As well as giving their overall verdict, each site was rated on five criteria: ease of use, range of options available, number of quotes provided and transparency of results.
|Price comparison sites rated by Which? members|
|Clarity of information||Ease of uses||Range of options||Quotes provided||Transparency of results||Customer score|
Footnotes: Sample sizes for customer satisfaction data: Moneyfacts (223); Moneysupermarket (1,974); Moneyexpert (586); Beatthatquote (38); Uswitch (417); Confused (1,098), Comparethemarket (1,301); Tescocompare (191); Lovemoney (36); Moneyextra (66). Quotezone not included as sample size was too small. Based on a survey of 9,197 members of the Which? online panel in January 2012. Source: Which? Money