"Defaqto star ratings are a hugely important tool for consumers when comparing financial products."
Defaqto experts select and analyse between 30 and 100 features or benefits for every policy on the market. Each policy is then scored against those features and assigned a rating based on a scale of 1 to 5.
Paymentshield has held a 5-star Defaqto rating since 2013 and Uinsure has held the rating since 2014.
Rob Evans, CEO of Paymentshield, said: “At Paymentshield, we think it’s really important that customers understand the importance of appropriate cover for their circumstances, rather than purchasing entirely based on price and Defaqto star ratings are a hugely important tool for consumers when comparing financial products. There’s so much clever marketing out there to designed programme us how to think when it comes to spending money on things like insurance, and it can be tempting for people to believe that cheaper is better – but this is rarely the case.
“Financial products, just like other product categories, vary wildly in terms of features and benefits and it’s important that clients are reminded of this. Bringing Defaqto star ratings into a conversation about insurance or any other financial product presents a huge opportunity to reinforce the value of your advice over price.”
Paul Kelly, director of product development at Uinsure, commented: “We are delighted to again be awarded the highest possible ratings from Defaqto. Ensuring we’ve got a fantastic range of high-quality products is always the priority for Uinsure, and we haven’t stopped in ensuring that our GI proposition leads the way. Receiving the highest quality Five Star rating for our Home Insurance, Home Emergency and Landlord Insurance is testament to our quality products and exemplary service.”
