Consumers 'waking up' to switching insurance providers

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Consumers are "waking up" to the benefits of switching insurance providers, according to Consumer Intelligence.

The research company's managing director, Ian Hughes, also said that it is "only a matter of time" until a growing number of consumers begin to apply the same principles of switching to their home insurance premiums.

A recent study showed that 43 per cent of people used a comparison site when they last changed their home insurance deal, while 69 per cent used the sites to look at car insurance costs.

Mr Hughes said: "Up until recently consumers have been very slow to realise the benefits of switching home insurance providers.

"But continuing economic uncertainty is encouraging them to move fast - in increasing numbers - to take advantage of the significant discounts on offer."

The release of the findings showing the popularity of using comparison sites for car insurance has come after Norwich Union recently claimed that drivers can save around ten per cent on their policy by buying online.

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