Insurance Customers 'Gripped by Inertia'

Report shows that insurance customers are losing out by not getting competitive quotes

18th January 2006

A report by market analysts Mintel has highlighted the number of insurance policy holders who fail to get the best deal by shopping around for competitive quotes.

Although it's recommended that people get several quotes every year when it comes round to renewal time, up to 63% of home insurance customers renewed without seeing if they could find a better deal. Even among those who did seek out quotes, almost a third got just a single quote before buying their policy.

There were similar findings in the car insurance market, where around 49% of policy holders - equating to around 15 million people - simply renewed their existing policies without making an attempt to shop around.

Read More: Mintel Presss Release

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