Many UK Customers Losing Out by Not Switching Home Insurance

Home insurance customers in Britain are wasting an overall total of £1.7 million by failing to switch provider, new figures from price comparison website confused.com show.

The findings focused on the reluctance of Brits to search for cheaper house insurance, suggesting as many as 40% have been with their provider for 3 years or more, and 13% have never switched insurer at all.  Among the reasons given were 19% saying they thought switching was too complicated, whilst 20% just “couldn’t be bothered”. With the company claiming an average of £96.43 per year could be saved by switching providers, the figures suggest a lot of money is being wasted.

Mark Gabriel, in charge of home insurance at Confused.com, commented: “Shopping around can not only ensure the best value for money deal, but can also prompt householders to ensure they have the right level of cover. Levels of cover can vary between providers so check everything you want is covered and then select a policy that meets your needs.  It’s worth doing this on an annual basis to make sure you’ve got the right cover at the right price – loyalty doesn’t pay and you may be able to find better cover at a lower price.”