But in the end, what is the real cost of giving money to the middleman, and are consumers perhaps allowing someone else to make decisions for them that they could easily be making for themselves?
"We have recently conducted research that shows that only 79% of consumers are the sole decision makers when it comes to choosing car insurance," says Derek Wilson, head of Hippo.co.za. "But what about the remaining 21%? Who makes their financial decisions for them?"
Some would use the same insurers as their parents, without really being aware of their own distinct financial needs. Others use insurance brokers to manage their financial portfolio on their behalf. This may be more costly in the end, given the fact one in two people could save hundreds of rands per month on their car insurance alone by using an insurance comparison website such as Hippo.co.za.
"There are no admin fees or commission to pay with Hippo.co.za and you could save yourself a huge amount of time and money by getting a number of quotes in minutes, just as brokers would do, but without the added broker's fees," adds Wilson.
"Furthermore, Hippo instantly sources prices directly from a range of insurance brands via the internet by sourcing prices from insurers' pricing engines to let consumers compare prices and benefits side by side, after which consumers can simply select the best deal for them."
Consumers are now able to enjoy the same benefits of using a broker by empowering themselves to make their own choices, without the added fees.
Here are some of the benefits of using the Hippo.co.za website:
"SA consumers need to realise that you no longer need to consult your broker before signing up for, or switching insurance products - you can do it yourself and it only takes a few minutes," concludes Wilson.
