Shop around for home insurance 'to make credit-crunch savings'

Posted : 16-07-2008

More than six in ten Britons did not use their last renewal date to change home insurance provider, new research shows.

A study conducted by Tescocompare.com reveals 64 per cent of people in the UK did not change household insurance when they last had the opportunity, despite 44 per cent reporting increased costs.

It found 2.5 million people were hit with a rise in price which was above the rate of inflation.

"Despite these worrying figures, only just over one in five of those that saw a price hike above inflation, have contemplated moving their policy to a different provider," the home insurance report warned.

Also this week, price benchmarking firm Consumer Intelligence reported home insurance customers are feeling less loyal these days.

It noted just 28 per cent claiming to be attached to one provider compared to 36 per cent a year ago.

© Adfero Ltd

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