More consumers 'look to switch insurance deal'
Published On 29 October 2007
An increasing number of UK consumers are switching to more competitive insurance policies, a new study has suggested.Data gathered by MoneyExpert.com indicated that 1.6 million additional consumers changed their insurance policies during the third quarter of the year than did so in the pervious three-month period.
In total, car and home insurance customers have changed over 9.2 million uncompetitive policies in the past six months.
Overall, 15 per cent of adults have swapped motor insurance provider and ten per cent have switched their home insurance policy in the six months to the end of October.
"Insurance has been incredibly competitive for a long time now. Just turn on your television and you'll see scores of advertisements all claiming to get you the best deal," commented Sean Gardner, chief executive of the site.
"And with online price comparison becoming mainstream for millions of people, it's even more likely that people will be happy to chop and change providers in search of the best deal."
A recent report from the AA showed that average premiums for both home and car insurance increased over the previous quarter.
