Another day, another auto insurance comparative rating website—one that misleads consumers into believing what they’re going to get is a true product comparison on which they can base a purchasing decision.

Nothing could be farther from the truth—or closer to potential catastrophe for American consumers and families.

The news of Google Compare’s launch sent me to the official blog, where I found the following information [emphasis mine]:

“Whether it’s buying the right car insurance or finding the best credit card, people want an easy way to understand and compare financial products online. In fact, when it comes to buying car insurance, 80% of drivers think they’d find a better policy if they could compare more than two providers.* That’s why today we’re introducing Google Compare for car insurance in California, with more states to follow. This represents the newest addition to a suite of Google Compare products designed to help people make confident, more informed financial decisions.

Google Compare for car insurance provides a seamless, intuitive experience for connecting with your customers online. Whether you’re a national insurance provider or one local to California, people searching for car insurance on their phone or computer can find you along with an apples-to-apples comparison of other providers—all in as little as 5 minutes. You can highlight what makes your business unique, whether that’s an ‘A’ rating in customer service or better discounts for safe drivers. And when users adjust their deductible or add additional cars to their quote, you can show updated pricing that matches their needs. They can then buy their policy online or over the phone through one of your agents.”

What does this tell me? First and foremost, that whoever is behind this knows pretty much nothing about the insurance industry or its products and practices. Let’s examine each of the highlighted comments above.

“People want an easy way to understand and compare financial products online.”

Nothing on this website enables consumers to “understand” or compare the product they think they’re buying. The site tells you absolutely nothing of substance about any individual insurance policy, let alone the claims or service practices of the insurer. It simply gives you the price of an unknown product. If you were brought to a seven-bay garage knowing a “car” was behind each overhead door, but the only information you had was a sign on each door indicating prices ranging from $5,689 to $14,069, which would you choose? You obviously don’t have enough information to make an informed decision—yet in the case of auto insurance, you’re expected to buy based solely on price without seeing the product.

And if you ask to see the policy before you buy, you’re wasting your time. My attempt to do this on other websites resulted in a 100% rejection rate. Do consumers enter into any other kind of legal contracts where the drafter of the contract refuses to allow the purchaser to read the contract in advance?

“80% of drivers think they’d find a better policy if they could compare more than two providers.”

How could a driver possibly think they’d get a “better policy” when the only real comparative information they’re given is a price? I asked for a quote on the website using a hypothetical 60-year-old single California man with a four-year old Honda Civic. The premiums I was quoted for $50/$100/$50 liability and UM (the latter without PD), $5,000 medical payments and comprehensive and collision, each with a $500 deductible, ranged from $569 with “one of America’s Most Trustworthy Companies” to $1,407 with a carrier boasting “A Great, Low Rate With Flexible Payments To Fit Any Budget.” How is that comparing providers by any measure other than price?

“A suite of Google Compare products designed to help people make confident, more informed financial decisions.”

How can a product comparison differentiated solely by price lead to an “informed” decision?

“Along with an apples-to-apples comparison of other providers.”

We see this “apples-to-apples” qualification in many consumer articles about shopping for auto insurance. What it means is make sure you’re comparing the same limits of liability, UM and medical payments, and the same deductibles for comprehensive and collision. It invariably says absolutely nothing about the coverages, exclusions, conditions and other features of each coverage to which these limits apply. When you’re getting auto insurance quotes, especially if some of the carriers are predominantly known as “nonstandard” auto insurers, coverage differences can be substantial and potentially catastrophic.

“All in as little as 5 minutes.”

We know buying insurance is not a pleasant task for most consumers, especially millennials. Neither is going to the doctor. But if my life is on the line, am I going to choose a physician based on how cheap he or she is and/or how quickly they can get me in and out of the office? Given that your auto insurance protects your assets and income, both of which can be imperiled in the event of a major uncovered loss, why wouldn’t you hold the seller of that product/service to the same high standards you would a physician?

Apparently there is some sort of contest among some insurers or agents to see how fast they can quote a policy. According to my tally, this is where we stand right now:

• GEICO: 15 minutes
• Esurance: 7.5 minutes
• Google: 5 minutes
• Virginia agent: 5 minutes (a Virginia agent who also includes a $20 Starbucks gift card)
• MetroMile: 2 minutes (an Integon auto policy being marketed to Uber drivers)

What kind of loss exposure analysis can be legitimately offered in 5 minutes?

“You can highlight what makes your business unique.”

This section is apparently directed at carriers that Google would solicit to be part of their comparative rating website. What makes an insurer unique is the products it sells and the services it provides, particularly claims services. Nothing else matters—except price, which is apparently all that matters on websites like this.

When I visited the actual Google Compare website and got the quote I mentioned earlier, I found the following language: “Compare coverages, prices, and features to make an informed decision.”

Exactly what coverages and features does Google Compare really disclose? What if I sometimes rent cars on business—which, if any, of these policies cover that? What if I sometimes use my own car on business? Some policies don’t cover business use of any autos and some don’t cover rental cars at all. Some exclude any non-owned autos. Some cover pizza delivery; many don’t. And the list goes on. Aren’t these coverages (or lack thereof) material to any informed decision? You will not find any information like this on any online insurance quoting website I’ve ever seen. And if you ask for a copy of the policies of the quoted carriers, good luck.

What would be news (and good news, at that) would be a comparative quoting website that allows you to read the contract (insurance policy) into which you’re about to enter and that discloses the material pros and cons of each quote from the standpoint of product and service. The mission of every true insurance professional should be to carry the message to consumers that auto insurance is not a commodity—that there are differences in products and claims practices of insurers that do matter.

Bill Wilson is director of the Big “I” Virtual University.

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