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Forces Compare: Army Price Comparison Sees Level of Car Insurance Policies

Forces Compare: Army Price Comparison Sees Level of Car Insurance Policies | FinTech Finance

Forces Compare, a price comparison site dedicated to the armed forces, has announced record levels of car insurance policies sold, catering to the military and veterans. Forces Compare was founded by ex-paratrooper Alfie Usher in 2019 after serving in the British forces for 10 years which included two stints in Afghanistan. He started his price comparison site after being charged high rates for basic credit cards and car insurance.

“It wasn’t until I left the army did I realise how expensive my policies and rates really were,” explains Usher. “A lot of policies are sold to you on the base and you don’t have much of a say. Then, when you leave the army, you are categorised as being a high-risk customer for financial products, probably because soldiers are accustomed to moving around from base-to-base. But once you leave the army, you are a regular civilian again but with a lot of skills. In fact, you are used to heavy machinery, so why you are getting charged an extra 50% for car insurance does not make sense. Similarly, if you have a better understanding of security and protection, why are you getting charged more for home insurance?”

Usher spent over a year speaking to different insurance and finance partners and now has over 50 different companies featured on Forces Compare.

“Our biggest growth area is definitely car insurance and January saw us hit record levels. Working with specialist insurers, we have been able to save the average army bloke around £250 on their annual premium. We have also seen success in claims for things like travel and military deafness. We are constantly rolling out new products, with secured and homeowner loans recently added to the panel.”

With over 50,000 visitors to the website consistently since June, Forces Compare goes from strength-to-strength. All products are available for civilians and non-army personnel too, just like a regular price comparison site. The startup plans to introduce credit cards and bank accounts later this year too.

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