Defaqto has given a 5 Star Rating to AllClear’s Travel Insurance products for the 5th year in a row.
But why is that important? And what even is Defaqto?
While you can compare prices for travel insurance on a number of websites, very few of them compare quality – which is an important consideration when deciding which product to buy.
Defaqto rates the quality of a financial product, such as insurance. Their services help you to choose when buying financial products, like Travel Insurance. We’ve been rating financial products since 2000.
Who is Defaqto?
Defaqto analysts study the financial market for services and products, before giving them a Star rating based on the features and benefits they offer, with 5 stars being the top rating. These analysts are constantly surveying the market, researching and analysing new products as they enter the market, to help you make the right decisions.
Defaqto rate over 2,700 home, motor and travel insurance policies.
Defaqto Star Ratings for AllClear policies
AllClear Gold Plus cover has been awarded 5 Star Ratings from Defaqto for Single Trip and Annual Multi-Trip Travel Insurance for the 5th year in a row.
This rating recognises the wide-ranging, quality cover we offer.
Gold Plus
AllClear Travel
Up to £15 million for medical expenses, £15K for cancellation, £2,500K for baggage
These ratings establish AllClear as a provider of comprehensive, reliable Travel Insurance.
What do the Defaqto stars mean?
Defaqto uses a Star Rating system. To help you see at a glance where a product sits in the market, Star Ratings give each a rating of 1 to 5.
Here’s a breakdown of the Defaqto star ratings:
5 Stars: provides one of the highest quality offerings in the market
4 Stars: provides a good quality offering
3 Stars: provides an average quality offering
2 Stars: provides a below average quality offering
1 Star: provides a low offering
Policies with just one or two stars are unlikely to offer the range of benefits that a 5 Star rated policy can provide, and a 5 Star rating indicates that the policy is one of the best products in the market. The ratings are given to the products, not the insurance providers, and are analysed daily and the methodology is updated annually.
Defaqto independently rates products across more than 60 categories.
How does Defaqto award the Stars?
Defaqto ratings are “based on facts, not opinion”. They do not rate price and customer service, as these are more subjective in how they are valued.
Instead, our analysts rate products and services based on the features and benefits they offer, along with the small print that many of us struggle to read properly.
Features are individually scored, with the product’s total then used to assign the 1 to 5 Star rating.
Products that offer the most features tend to receive a higher rating. To receive a four or five-star rating, some “core criteria” features must be included.
Defaqto analysts continually examine the markets throughout the year, regularly consulting with the relevant industries to determine which features are most important.
How can Defaqto help you choose Travel Insurance?
Knowing that products have been rated based on their quality can help you make your final decision. And because Defaqto is independent, and each product or policy has been thoroughly examined, you’re getting an expert assessment.
Defaqto emphasise that they operate impartially, with no bias to any particular product or company. They aren’t affiliated with any financial companies or related third parties, and their ratings are completely independent.
Impartial guidance when buying insurance is important as it’s a decision you want to get right.
It’s easy to find the cheapest priced product, but harder to establish which product is best for you.
While price is inevitably a factor when deciding, it certainly shouldn’t be your only consideration!
The unbiased Defaqto Star Rating means you can easily identify which products are superior in the market. When buying a policy with a high Defaqto Star Rating, you know you’re buying a high-quality product. When comparing Travel Insurance, the Defaqto Star rating for insurance products will be shown on the quote results page, so you can see which products have the highest rating.
