Top Tips for Using Insurance Comparison Sites |

Top Tips for Using Insurance Comparison Sites

Pacific Prime, a licensed broker in Dubai, explains how to best use insurance comparison sites, and what to watch out for.

Posted on

1 February 2018

Last updated on 5 February 2018
Top Tips for Using Insurance Comparison Sites

Nowadays, finding the best deal can be as easy as a few clicks of the mouse. From searching for the cheapest flights, hotels, and credit cards, to finding the best health insurance deal on the market, price comparison sites have become the first port of call for millions in the UAE due to their unique ability to sift through hundreds and thousands of deals on the internet in seconds. But, are all of them legit?

Pacific Prime offers advice on how to best use insurance comparison sites and what to look out for.

Why people use insurance comparison sites

Price comparison sites have exploded in popularity over the past 10 years. In particular, the advent of insurance comparison sites has brought the following key benefits:

  • They’re convenient and time-efficient:
  • Who wants to waste a Saturday afternoon gathering insurance quotations from multiple different sources, when a few clicks can show you all the pricing information in one centralized place? Time is money after all, and saving as much as possible is one of the main attractions of insurance comparison sites.

  • They can help you save money:
  • Being able to sort insurance quotes by price can result in significant cost savings. Be wary of the cheapest options, though, as they may offer only the most basic coverage benefits.

    Insurance comparison sites explained

    Insurance comparison sites, like this one featured on Pacific Prime Dubai’s website, essentially work by presenting consumers with price quotes based on the information they select.

    Those searching for health insurance plans, for example, will most likely need to enter their age, gender, nationality, and location of coverage - all key factors that go into calculating premiums - in order to generate a tailored quote.

    The basic idea behind it all is that insurers get additional exposure, while consumers enjoy greater transparency and convenience by not having to gather quotes from multiple different sources.

    What kind of sites should I be wary of?

    Be careful, however, as not all comparison sites operate in the consumer’s best interest. As opposed to online quotation tools featured on licensed brokers’ websites, which are regulated, there also exists price comparison sites that are not licensed brokers.

    For example, some websites (commonly known as “lead generation” sites) operate by acquiring your information and selling it to whoever’s in the market; usually, to independent agents searching for new clients.

    While some lead generation sites are strict about the number of agents who are able to purchase your information, others might not have any policy concerning how many people are allowed to purchase your data, or what they can do with it. Before entering your information on a comparison site, it’s therefore a good idea to have a read through their privacy policy section. Can’t locate it? This could be a red flag.

    SEE ALSO: Family Health Insurance Costs Compared Around the World

    Insurance comparison sites explained

    Tips for using insurance comparison sites

    You could save a lot of time and money on insurance by using the right comparison site, but it’s worth doing your homework on how to get the best out of them. Here are a few tips you might want to keep in mind:

    Watch out for pre-filled selections

    Insurance is complex, and premiums are calculated based on a number of details that are specific to you. To speed up the quote generation process, some comparison sites may “pre-fill” certain information (e.g. your area of cover) to save you time. As such, it’s important to check that your comparison results are based entirely on your needs and details; otherwise, the recommended policies might not be suitable or displaying the correct price.

    First isn’t always best

    Some comparison sites earn money from sponsored listings, where companies pay to feature their products in search results first. While the sponsored listing might be a great offer or a good fit for your needs, it always pays to review all your options before buying a plan.

    SEE ALSO: Medical Tourism: What to Look Our For When Seeking Care Abroad

    Cheapest isn’t always best, either

    We all want to save money, but like most products and services, the lowest insurance premium quoted is likely not conducive to the best overall cover. When buying cheap insurance, some of the risks you’ll want to watch out for include:

  • Insufficient coverage
  • High out-of-pocket fees
  • Poor customer service
  • Extensive list of exclusions
  • Also consider the “intangible” elements of a policy

    Sure, tangible factors such as price, benefits, and level of cover are all very important aspects to consider when buying insurance. To ensure that you’re getting the right policy for your needs, it’s highly advised that you also consider the intangible aspects of policies (e.g. customer service), which can make a huge difference when it comes time to submitting a claim.

    This type of information can be hard to find, however, as they’re usually not indicated on insurance comparison sites. With this in mind, it often pays to get in touch with a licensed insurance broker, who will be able to guide you through all your options, and present you with the best match based on their professional, impartial opinion.

    If you’re ready to look for the best health insurance solution, check out Pacific Prime Dubai’s insurance comparison tool here today. If you think you’ve selected the right plan, the quotation tool will put you in touch with one of their experts, who can show you why Pacific Prime Dubai is the broker of choice for hundreds and thousands of expatriate clients in the emirate.

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    Pacific Prime Dubai
    Pacific Prime Dubai works with all the international and local health insurance companies to help you find the right compliant health insurance plan for yourself, your family, or your company.