A Defaqto Star Rating reflects the level of features and benefits offered within a financial product, helping consumers make a more informed decision about which one suits their needs. We currently review products across 45 categories. Our research team assess the features and benefits of every financial product under each category and award a Star Rating from 1 to 5. 1 indicates the lowest level of cover or features and 5 the highest.
So for example, consumers looking for a basic level of home insurance cover may want to consider a 1 or 2 Star rated product. If however, they are looking for a higher level of features included within their cover, a 4 or 5 Star product may suit them better.
We do not assess the price of a product
Prices can change or depend on other factors such as a consumer’s address, type of car or property or age, for example. So it isn’t always possible to compare products directly and this is why we don’t include price when assessing and rating a product.
How can Star Ratings benefit you?
You can use Star Ratings during your research process to help you identify the products which best fit your client’s needs.
Star Ratings provide an unbiased view on the quality and standard of a product, enabling you to quickly understand where a product sits within the wider market.
Features and benefits matter to consumers as do independent ratings. From our research:
- 94% of consumers compare the features of different products when choosing a financial product*
- 87% of people see independent ratings as an important factor when making a decision.*
(*Source: Defaqto consumer research, March 2011).
Star Ratings can be used to support your recommendations as they give a clear indication of the features and benefits provided within a product.
Star Ratings in Engage
Star Ratings are now available on Defaqto Engage IFA, our product research and recommendation tool. Find out more about Engage.
Star Ratings product categories
Useful downloads
An introduction to Star Ratings
Star Ratings promotional activity
Star Ratings quick facts for your clients