Defaqto rating: 3/5 stars (Under 50s) and 5/5 stars (Over 50s)
Both Post Office car insurance policies have been rated by Defaqto, which awarded the Over 50s policy five out of five stars and the Under 50s policy three stars.
Note: Not all Defaqto products with the same star ratings have the same covers and terms.
Feefo rating: 4/5 stars (Over 50s) and 2/5 stars (Under 50s)
Consumer rights group Fairer Finance awarded the Post Office Over 50s Car Insurance policy four stars, noting the inclusion of its cover for uninsured driver and courtesy car for the duration of repair as plus points.
The Under 50s Car Insurance policy has a two-star rating, marked down partly for not covering incidents with uninsured drivers.
The Post Office became independent from Royal Mail in 2012. Since then it has been publicly owned and has branched out considerably, selling far more than stamps and jiffy bags.
Now customers can open or buy more than 170 different products and services, including savings accounts, currency, travel, home and car insurance, mortgages and broadband.
Post Office car insurance is actually arranged by insurance intermediary BISL, which trades as Budget Insurance.
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Insurance policies tend to appeal to certain groups of people, or individuals with certain requirements. In the case of the Post Office Over 50s and Under 50s car insurance policies this could include customers:
looking for a policy tailored to their age group
under 50 who want a year’s breakdown cover included in their policy
over 50 who would welcome £100 towards ongoing transport or £400 towards overnight accommodation costs in the event of an incident
who want to insure with a brand with a long and secure history
for whom a 24-hour claims line is a priority
The Post Office is one of several financial providers to offer incentives to entice customers. Over 50s will receive a £30 gift card from Argos, Amazon or M&S upon buying a new policy.
The Financial Ombudsman Service received fewer than 10 car insurance complaints about the Post Office but its service is run by BISL, which received 76 complaints. To put that in context, 67 firms had 10 or more complaints each and those totalled 4,550 complaints. Nearly 200 firms had fewer than 10 each, sharing just 479 complaints between them.