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A Defaqto Star Rating lets you know the quality of your financial product, from an independent source.
For example, when the time comes to buy a new insurance policy, do you really know what your new Home, Motor or Travel insurance covers? Do you know what your insurance needs to cover to give you the protection you want? Defaqto helps you understand what levels of protection a policy really offers through our industry accepted independent Star Rating system.
The Defaqto Star Rating system attests to the quality of the product. Our Star Ratings are based on the levels of cover for key features offered by products.
However, every customer is different and we at Defaqto suggest that you always check the specific cover offered against your own requirements.
If you are unsure what cover to ask for, or what kind of cover can be offered use our free cover comparison tool on www.find.co.uk
What does a Five Star rating mean to me as a consumer?
When you see the Defaqto Five Star Rating logo you can be sure that product is in the top 10% of the market for strong cover protection.
Defaqto is a totally independent company. 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.
Products with the Defaqto Five Star Rating are ranked in the top 10% of the entire market, so you can be sure that the highest rated products offer a wide range of benefits compared to most policies, rather than just being better for one or two elements of cover.
Four Star Rated products are in the next 15% of the market on cover quality while products receiving a three Star Rating are in the second quartile of the market (25%-50%)
Two and one Star Rated products score lowest on cover and quality and are consequently in the lowest half of the market.
What criteria are used for Star Rating?
Defaqto employs a team of industry experts, each with considerable working experience in their relevant field. Our researchers analyse policies across all features and benefits that are offered by all products in the market.
Using their extensive industry and product knowledge our product Consultants then select only those features and benefits which, in their expert opinion, are most important to customers when buying a policy. All policies are scored against the selected range of features selected, to ensure a fair, independent analysis, based on expert chosen criteria.
What kind of products are Star Rated by Defaqto?
Defaqto rates a wide range of financial products including general insurance products such as home, travel, pet, and motor, critical illness and PPI, banking products such as credit cards, and pensions and investments.
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