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People still switching home insurance, figures show

Wed, 28 May 2008

The credit crunch has not deterred people looking to switch to a better home insurance deal, new research shows.

Figures released by MoneyExpert.com show that despite a fall in the number of people changing things such as mortgages, home insurance customers still continue to look for better products.

According to the firm, ten per cent of home insurance customers switched providers in the last six months.

Sean Gardener, founder of the price comparison website, said: "Switching in search of a more competitive deal remains big business with 46 per cent of us moving at least one product to another provider.

"However the credit crunch is having an effect on people's ability to move as lenders increase rates and prices and withdraw products."

Despite this, people should still continue to search out the best possible deals, he added.

Yesterday, the Daily Telegraph warned that people planning to undertake major DIY projects should make sure that their home insurance policy covers them in the event of an accident.
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