Home insurance and car insurance discount announced

Internet bank first direct has announced that it will offer a discount on all home insurance and car insurance policies taken out before the end of the year.

The insurance provider is cutting the price of home insurance and car insurance by 12.5 per cent.

By switching insurance companies to first direct, customers could save money, Consumer Intelligence research found.

An average £157 could be saved on car insurance and a maximum of £145 on home insurance if insurance customers switch to first direct, it has been revealed.

The insurance discount is not available to insurance customers who are renewing or adjusting their existing insurance policies.

The internet bank is the UK's most recommended bank, according to research over the last 13 years by MORI and Research International.

Of first direct's new banking customers who joined last year, 37 per cent did so upon recommendation of a friend. Another 37 per cent switched to the internet bank because they became dissatisfied with their previous bank.

All-day banking, internet banking and text message banking were the other top reasons banking customers cited for their switch to first direct.