Quarter of Brits have not switched and saved in 2011

By Marianne Straker, Tue 3 Jan 2012 - Published in Home Insurance

Over a quarter of Britons did not switch their home or car insurance in order to save money in the past 12 months.

Research by Gocompare.com found that 26 per cent of UK consumers have not switched their policy to 20 of the more attractive financial offers in the past year but 65 per cent of insurance holders are expecting a difficult 2012.

The results found that eight per cent of the respondents - two million Brits - said that their main concern was maintaining their rent or mortgage repayments with a further 22 per cent blaming the rise of bills and living costs.

John Miles, business development director at Gocompare.com, said: "Nearly two-thirds of Brits are expecting 2012 to be a very difficult year for their finances, but our research shows that millions of consumers could be missing out on hundreds of pounds worth of savings by not reviewing their finances and switching to better deals on some of the most common financial products."

MoneySupermarket.com said that British consumers will make clearing debt from credit cards their main priority in 2012.

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