Tesco: Insurance decisions important for Britons

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Tesco: Insurance decisions important for Britons

Research conducted by Tesco has revealed that consumers have lost a total of £750 million over the past year due to choosing the wrong insurance.

According to Tesco, choosing the wrong insurance has cost each consumer an average of £736 apiece over the past 12 months.

Some 55 per cent of respondents admitted that they briefly skim over the descriptions of products when they are agreeing to buy them, while 58 per cent say this behaviour has led to the purchase of an inappropriate product or service in the last year.

Peter Dingle, managing director at TescoCompare.com, commented: "It is worrying that so many of us have made mistakes in the past twelve months.

"With the pace of modern life, many perhaps simply do not have the time to make sure they understand what they are buying."

The firm recently offered a 50 per cent discount on Tesco home insurance.

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