There are some great advantages of buying insurance online and one of them is getting cash back. Getting cash back is not something that everyone knows about but it can give you a significant chunk of money.
A cash back website is one where you get paid money for signing up to things or shopping online. There are quite a few around, and they all pay different rates, some even pay to charities. What you have to do is to visit the website and click through their link to the website you want to go to. This could be a financial institution, supermarket or retailer. They will track that visit and when you have gone through with the purchase they will pay you some money. This could be a large lump sum and insurance tends to be quite a good payer.
Companies use the sites to try to encourage you to buy their products. It is sensible though, to choose your insurance first and then to see whether there are any cash back deals on it, rather than the other way around. You want to find the best policy for you not necessarily the one that will save you the most money.
Once you have made your purchase the cash back site will acknowledge it. They will not pay you the money immediately though, because they will wait for the company to pay them the money first. Some sites do not have a good reputation because they do not always pay, but this is more likely to be because the purchase wasn’t properly tracked and so they did not get their money and so you will not get your share. However, they all have a procedure where you can tell them if you think you should have been paid and were not and they will look in to things for you.
You will not be paid all of the cash that the retailer give though, the cash back company will get some. They may take it as a percentage at source or charge you a fixed yearly fee. They all work differently and it is worth looking in to them in order to find out which looks the best for you. Some people have been known to get more money in cash back when taking out an insurance policy, than the yearly cost of the policy, so it is well worth looking in to as the cash back amounts can be very significant.