defaqto star ratings
When the time comes to buy a new insurance
policy, do you really know what your new Home, Motor or Travel
insurance covers? How do you quickly compare the myriad of products
in the market, and decide which ones offer the protection you
want?
Defaqto helps you understand what levels of
cover and benefits products really offer, through our industry
accepted independent Star Rating system.
A Defaqto Star Rating lets you know the
quality of your financial product, from an independent source. The
Defaqto Star Rating system attests to the quality of products,
based on a series of scoring bands. The boundaries of Star
Rating bands have been set by Defaqto using our extensive knowledge
of products in the market, the relative worth of each feature to
the customer, and current and future market developments.
Every customer though is different, and we at
Defaqto suggest that you always check the specific cover and
benefits offered against your own requirements.
If you are unsure what cover to ask for, or
what kind of cover is available use our guides and the Defaqto
Compare tool on www.defaqto.com
What does a Defaqto Star Rating mean to me as a consumer?
When you see a Defaqto 5 Star Rating logo, you
can be sure that the product offers a wide range of benefits
compared to most policies, rather than just being better for one or
two elements of cover.
| Rating |
Features
and Benefits |
Aimed at |
|
5
Star
|
Wide range of very high cover and benefit
levels
|
Customers seeking reassurance that they are
buying the best
|
|
4
Star
|
Good range of high cover and benefit
levels
|
Customers seeking very good products at
reasonable prices
|
|
3
Star
|
Good range of cover at slightly above average
levels
|
Customers seeking a standard policy offering
reasonable cover
|
|
2
Star
|
More limited range of cover at or below
average levels
|
Customers seeking a value product with a few
extras
|
|
1
Star
|
Limited range of covers at below average
levels
|
Customers seeking a basic value product
|
For most product ratings a small selection of
additional ‘core’ criteria have also been analysed to ensure that
those which are given the highest ratings are not lacking in any
vital areas of cover.
Even within a single product area (say home
insurance) there is considerable variation between the levels of
benefits offered and any two products are rarely identical.
Purchasers therefore must ensure when choosing any product that it
fully meets their individual needs, even if it has been awarded a
particular Star Rating by Defaqto.
Are Defaqto Star Ratings really independent?
Defaqto is a privately owned, totally
independent business. No company pays us to appear in our
analysis, and we cover all financial products in the market, not
just those from a limited range of providers. So you can be
sure our independent Star Ratings are based on a fair analysis of
the whole market.
What kind of products are Star Rated by Defaqto?
Defaqto rates a wide range of financial
products including general insurance products such as:
- home insurance
- car insurance
- motorbike insurance
- travel insurance
- pet insurance
- buy-to-let home insurance
- critical illness insurance
- payment protection insurance
- income protection insurance
- credit cards
- current accounts
- mortgages
- offset mortgages
- lifetime mortgages (equity release)
- offshore bonds
- onshore bonds
- SIPPs