Brits 'pay too much for insurance'

08 December 2005
Brits who renew insurance policies without first looking for a better deal could be paying over-the-odds for insurance, a new report has said.

Research group Mintel says reluctance to look for better car and home insurance deals could be costing Brits dear.

Mintel says two-thirds of people renew their policies without getting quotes from other insurance providers.

Senior finance analyst at Mintel, Paul Davies, said: "In both the motor and home insurance markets the majority of people feel that they are happy with their policy but as they have not looked around for any alternatives a better option could be just a phone call away.

"Consumers really need to be switching their policies every year in order to get the best deals around."

Mintel says that for the cost of one phone call to a different insurance provider, Brits could get significantly cheaper policies.

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