Tesco: Two thirds of Brits on high insurance premiums due to inertia

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Tesco: Two thirds of Brits on high insurance premiums due to inertia

Rising home and car insurance premiums coupled with inertia to switch is locking most Britons into paying more, research from Tesco shows.

One in ten motorists has never switched car insurers or has stayed with the same one for over ten years, according to the survey,

It found that 64 per cent of Britons did not change their home insurance at the last renewal date, even though 44 per cent had a rise in their premiums.

Of the 2.5 million who saw an above-inflation hike, 22 per cent considered changing insurers.

A third of motorists (32 per cent) said they switched car insurance providers in the last 12 months.

The data found that 36 per cent have been with their current provider for three years or more and seven per cent of these claim never to have changed.

Confused.com recently warned caravan owners to check their insurance.

Most caravans are covered by standard car insurance policies, but have only third-party insurance while being towed.

The website advised people taking caravan holidays to check the vehicle has fully comprehensive cover before leaving for a break.
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