What’s a “reverse auction”?

No, a reverse auction isn’t a room full of people talking backwards, but where the roles of buyer and seller are flipped. We invite insurers to bid against each other to win you over. Reversing the process puts you first and means the cost of your insurance often goes down as your bids go up.

How do I get bids?

Getting bids is easy like Sunday morning. Search ‘honcho’ in the app store and hit download – or head to www.gethoncho.com on your desktop. From there, scan your licence (app only), enter your details, request your bids and watch as insurers fight it out to try win you over. When you’re happy, click to buy directly from your chosen insurer. Easy, peasy, breezy.

Do honcho offer advice on which policy I should buy?

No, honcho does not have permission to provide advice on the policy you should buy, so we do not give it. The honchometer score & wording also don’t represent advice (you can find out how the honchometer works by looking at the FAQ below). You must solely make your own decision on what policy you buy.

How does the honchometer work?

The honchometer is designed to provide a factual representation on whether an insurance policy includes the features that you have requested. The honchometer score – which determines the colour and length of the honchometer bar for each bid – is calculated using a mathematical formula. The calculation uses the combined excess you are willing to pay as well as any requested add-ons (such as breakdown cover or windscreen cover). It then works out how closely each policy meets these requirements. A higher score means a closer match, a lower score is a poorer match.

  • E.g. you request a combined excess of £450 plus breakdown cover, motor legal protection and loss of keys cover. The honchometer score will be higher for policies that include these 3 add-ons and have a combined excess less than £450, and will be lower for policies where the excess is greater than £450 and/or some of the add-ons are not included as standard.

I saw an insurer bid for me during the auction, but they weren’t there at the end?

Some insurers may submit an initial bid to honcho that is then removed during the auction because it isn’t competitive. At honcho, we only want to offer you policies that are easy on the pocket and provide the cover that you have requested. If a policy is removed from the auction, the insurer is not charged the £1 bid fee.

I don’t have a smartphone – can I use honcho?

Yes of course, our service is also available on the web. Just click the Get Started button at the top of any page to get going.

I've only received a very small amount of bids, why?

We allow our insurance providers to filter which honcho users they receivce data about; the insurance provider can then choose to bid or not. There is a possibility that the level of your riskiness may not be something that all of our insurers are interested in bidding on and so the amount of bids that you see may be reduced, or in a very worst case there may not be any bids. For example, if you have 3 driving convictions and 7 claims this presents a higher risk to an insurer than someone that has 0 convictions and 0 claims does. As such some of our insurance providers may choose not to receive your data, and so not be able to bid for you, but some of them specialise in these types of scenarios and so it’s likely that they will bid for you.