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Are Price Comparison Sites Effective?

Aug 11, 2008
Over the past two or three years a new breed of website has sprung up, and these websites are designed to increase efficiently, reduce time consumption, and increase ease and convenience for consumers looking to get a good deal on a range of services and products. In the past, those looking to get a good deal on their products and services often had to trawl a wide range of website and collate the different information relating to price, benefits, and terms in order to determine which was the best deal for them, but these website do most of the legwork for you, saving you time, inconvenience, and stress.

The sites are known as price comparison websites, and over recent years a number of these websites have sprung up. Some price comparison sites deal with specified products or services, such as insurance services, whereas others cover a wide range of products and services, including insurance, credit cards, loans, mortgages, mobile phones, broadband, utilities, travel, and more. The aim of the websites is to provide consumers with details of the cheapest deal for their needs as quickly and easily as possible.

Price comparison sites can be very effective in terms of saving you time and even money. These sites are very easy to use. All you have to do is enter the required details relating to your needs and circumstances on the website, and then the site will bring up a list of suitable providers and services, enabling you to see at a glance which will be the cheapest option for your needs. This saves you the trouble of having to hop from one website to another in order to get the best deal on a specific product or service.

However, it is important to bear in mind that price comparison sites only cover a portion of the market, and whilst some cover as much as 80% of the market this still means that there is a chance that there is a better deal available out there amidst the portion of the market that has not been covered by the price comparison site. This means that whilst you can find the lowest priced service or product from a particular price comparison site there is no guarantee that this is the cheapest price on the product or service from the whole of the market.

One idea when looking for low cost services and products is to check two or three price comparison sites, as this may enable you to access more of the market. The sites are fast and easy to use, so you won't have to waste a lot of time, and you could really benefit in the long run by getting a far better deal on the service or product that you are looking for. Once you have selected the required service or product based on suitability and price you can link to the provider's site from the price comparison site, although you should be aware that the price quoted on the price comparison site may not be the price that you get when you link to the site.
About the Author
Peter Kenny has been writing financial articles for 10 years and is a writer for The Thrifty Scot, please visit us at Current Accounts and Money Tips
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