Quote & Buy - Motor Insurance

Quote & Buy FAQs and Industry Information

Please Note: Quote & Buy seem to have ceased trading.

What is Quote and Buy?
Quote and Buy is an Internet company and e-commerce broker, formed in January 1999 and based in London. Quote and Buy went live to the public in July 2000, providing the first complete online insurance solution for motor insurance. Over the coming months Quote and Buy will provide a whole range of other personal and commercial online insurance packages as well as other financial services.

Quote and Buy has developed an Internet site where consumers can enter their details into a quote form and receive comparative quotations from a panel of motor insurers. Unlike other online insurance sites Quote and Buy accommodates all types of cars and drivers including those with specialist requirements.

The savings that technology brings to the quoting and buying of motor insurance helps to ensure competitive prices and for the very first time, off-line procedures such as policy adjustments and cancellation can be done online, with immediate generation of documentation.

How is Quote and Buy different to other online insurance sites?
There are a number of insurance companies who have quoting systems online and a couple of web enabled broker and software house systems.

Direct insurance sites offer only one quote so consumers are still forced to re-enter their details from site to site. Broker sites do provide comparative quotes from a panel of insurers but no site other than Quote and Buy accommodates all types of drivers and all types of cars.

Most important of all, changes and cancellations to policies bought through other online sites have to be made by telephone during the working week. But with Quote and Buy, insureds can effect policy adjustments or cancellations 24 hours a day, 365 days a year from anywhere in the world. As most policies have at least one adjustment per annum, this is a major advantage.

Quote and Buy is also the only site to generate instant online documentation including the certificate of insurance, policy schedule, policy document and claims information. This also applies for policy adjustments. The documentation sits within an Online Desktop which the insured can access by inputting their personal username and password.

The Online Desktop is familiar to anyone who uses a computer and is a world first. It provides consumers with an electronic filing cabinet in which to store all of their insurance documentation.

What are you selling?
Initially, Quote and Buy will be selling motor insurance including ULR (Uninsured Loss Recovery and Legal Expenses) and car breakdown through RAC. The site will also provide the following insurances over the next few months;

Premium Finance will be available for all forms of insurance

What does Quote and Buy do in motor insurance that other online sites can't?

Do you provide comparative quotes?
Quotes are generated from a panel of insurers where premiums, compulsory and voluntary excesses are displayed, and policy wordings for each insurer can be reviewed.

Can you store quotes?
Uniquely, Quote and Buy provides consumers with an Online Desktop in which all of their quotes are stored for 14 months. Re-quotes can be instantly obtained from the panel of insurers in two clicks of the mouse. You never need to remember quote reference numbers.

What happens when consumers purchase motor insurance?
Having made the purchase using a credit card, consumers immediately receive all of their insurance documentation online. This includes Certificate of Insurance, Policy Schedule, Policy Documentation, and Claims information. All of this documentation is stored and can be accessed and printed at any time from the consumer's personal Online Desktop.

Can consumers effect policy alterations?
Unique to Quote and Buy, policy aletarions (known as Mid Term Alterations) can be made online 24 hours a day, 365 days a year from anywhere in the world. Adding a driver, changing a car, seeing what the premium would be if consumers change the car is easy. On-line documentation in the consumer's Online Desktop is immediately generated to reflect policy changes.

Can policy holders cancel online?
Quote and Buy is the only online motor insurance site which enables consumers to cancel their insurance online immediately.

Is immediate cover available?
Insurance can be effected immediately following buying with a credit card or by instalment finance. The online documentation reflects the inception time of the policy.

Can you insure young drivers?
A number of insurers on the panel specialise in drivers under 21.

Do you offer lower premiums for lady drivers?
A number of insurers on the panel specialise in insurance for ladies.

Will drivers have to provide proof of No Claims Bonus?
Generally proof of No Claims Bonus is not required but insurers have the right to ask for proof at any time. Insureds are reminded that providing false information may invalidate their insurance.

What if a driver wants to change his car?
Obtaining quotes and buying insurance for a new car is easy using the policy alteration facility. With Quote and Buy consumers can easily review the insurance premiums for different cars they may be considering purchasing.

What happens at renewal?
Customers will automatically receive renewal prices by email and can renew immediately or seek alternative quotes.

Is it easy to change insurer?
Changing an insurer mid term or at renewal is extremely straightforward, thereby ensuring that customers are getting the best prices.

3 Duke of York Street,
London
SW1Y 6JP

http://www.qandb.co.uk