Bringing Back the True Cost
Cheapercover aim to bring back the true cost of car insurance, but we need your help to do so!
Watch the video, or read below to see how we intend to strip out the various costs of the ‘middlemen’ that have crept in over recent years.
Most important of all – register your interest in this movement by completing your details below. This puts you under no obligation whatsoever, but every person that does this makes it more likely to happen soon!
Car insurance in the UK is expensive, but that’s all about to change!
In the ‘good old days’, there were just insurance companies and customers. The insurance company set a premium based upon how likely they thought you were to make a claim on the policy. Simple, pretty easy to understand – and fair.
Then along came ‘insurance brokers’. So, in between you and the insurance company, was a broker who would act as a middleman. Brokers wanted their slice of the pie, and would typically charge the insurance company between 10 and 20% of the total premium in commission. They also charged you for making any changes to your policy.
When the internet came along, insurance companies and brokers started to pay search engines up to £8 per click for keenly-contested keywords like ‘car insurance’.
Then, price comparison websites came along and started charging insurance companies and brokers about £50 for each policy sold. Price comparison websites also started paying search engines up to £8 a click.
So now we have brokers, price comparison websites and search engines – all wanting a slice of your insurance premium. This can often mean that you get a reasonable quote in your first year, but then the price jumps up a lot in the second year. Whether the companies are trying to recover some of their initial costs, or taking advantage of customers who don’t shop around – this isn’t good for you.
In fact, in October 2018 – the Financial Conduct Authority announced that they were looking into whether insurance providers are treating customers fairly around pricing.
Welcome to CheaperCover
Using “blockchain technology”, we aim to bring back the true cost of insurance by reducing costs, cutting out the ‘middlemen’ and doing away with extortionate interest rates for monthly payments.
Semi-automatic switching means that if ever your policy goes up by more than the official rate of inflation, our system will automatically look for better prices and give you a simple option to switch.
The renewal ‘dance’ will be a thing of the past. Just one continuous policy via CheaperCover – at the best price we can find. You don’t need to switch right now. We just want you to register your interest for when we launch. We will be offering insurance to those that joined us first. The earlier you join, the nearer the front of the queue you will be – and the sooner you’ll get CheaperCover.
There’s nothing to lose, so join today by completing the form below…