New Year brings new savings drive for brits
Friday, 21 January 2011
• One in ten (9 per cent) motorists look to save over £100 on their insurance in 2011
• A fifth (21 per cent) of homeowners would be happy with a £20 saving on their home insurance when switching in 2011
Over half (59 per cent) of Brits will look to make further savings in 2011, according to research by online insurer swiftcover.com.
Topping the savings wish-list, two thirds (66 per cent) of people in the UK intend to make savings on their energy bills this year, whilst over half (55 per cent) will seek cheaper credit card offers. Third priority for saving money in 2011 will be landline/broadband bills with 42 per cent of UK consumers looking to switch. Car insurance is fourth with 41 per cent looking to save money by switching and mobile phone bills (40 per cent) complete the top five.
The swiftcover.com survey also highlights how home insurance is fast becoming recognised as an area for potential savings, with over a third (36 per cent) intending to switch and save this year.
Tina Shortle, marketing director at swiftcover.com said: “This year is going to be another year for the tightening of belts for everyone in the UK. It’s no surprise that energy bills are top of the savings list, however it’s interesting to see both car and home insurance being so prominent in the savings wish-list. People realise that they can save money on their insurance by shopping around. With swiftcover.com they can save time too.”
In terms of savings on car insurance, the majority (58 per cent) of those surveyed by swiftcover.com will look to save between £20 and £50, while one in ten (9 per cent) intendto save over £100. On average, motorists want their premiums to be £47 lower this year. Meanwhile, one in five (21 per cent) would be happy with a saving as small as £20 on their home insurance.
Shortle continues: “Shopping around for the right car insurance is important if you want to make the biggest saving possible. However, home insurance hasn’t traditionally been an area where people switch to save, purely because it’s perceived to be so difficult. It’s good to see so many people (36 per cent) realising that there are huge savings to be made by switching home insurance.”
swiftcover.com launched a new home insurance product in July 2010 which makes buying your cover quick and easy. Customers can see exactly what they are covered for and save money by not paying for what they don’t need.
For more information on swiftcover.com car insurance, visit: www.swiftcover.com/carinsurance
For more information on swiftcover.com home insurance, visit: www.swiftcover.com/homeinsurance
For more information on swiftcover.com travel insurance, visit: www.swiftcover.com/travelinsurance
For more information on swiftcover.com motorbike insurance, visit: www.swiftcover.com/motorbikeinsurance
ENDS
About swiftcover.com’s research:
*1048 respondents participated in the survey by Lake Market Research
Notes to Editors
For press enquiries please contact:
Luke O’Mahony or Sean Williams
Brazil (PR agency for swiftcover.com)
020 7785 7383
swiftcover@agencybrazil.com
1 in 5 people get the cheapest car insurance quote from swiftcover.com according to 2011 analysis of 8.9 million 2010 quotes on Moneysupermarket where swiftcover.com returned a quote.
swiftcover.com home insurance aims to simplify the buying process so that consumers can gain a fast informed quote.
About swiftcover:
Based in Cobham, Surrey and employing over 1,000 people, www.swiftcover.com started trading in June 2005 and was born out of a desire to revolutionise the general insurance market.
swiftcover.com offers car, home, travel and pet insurance online, and is Britain's only insurance company without call centres, which means that the cost savings can be passed directly onto the customer and premiums are kept low. In 2008 swiftcover.com featured as the cheapest insurance quote on the comparison website moneysupermarket.com more often than any other insurer.
This powerful operating model combined with successful marketing and competitive pricing has proven to be a tremendous success. In 2008 swiftcover.com achieved over half a million live policies and in May 2009 sold their one millionth policy. They are considered to be the fastest-growing insurer in the UK.
In 2007, AXA UK acquired swiftcover.com. It is now a wholly owned subsidiary of AXA Insurance UK PLC which forms part of AXA Group.
About AXA:
AXA UK is a part of the AXA Group. AXA Group is a worldwide leader in Financial Protection. AXA's operations are diverse geographically, with major operations in Europe, North America and the Asia/Pacific area. For full year 2009, IFRS revenues amounted to Euro 90.1 billion and IFRS underlying earnings to Euro 3.9 billion. AXA had Euro 1,014 billion in assets under management as of December 31, 2009.
The AXA ordinary share is listed on compartment A of Euronext Paris under the ticker symbol CS (ISIN FR0000120628 – Bloomberg: CS FP – Reuters: AXAF.PA).
Our previous company performance is not a guide to how we may perform in the future.
Any opinions expressed in this media communication are made as at the date of this publication but are subject to change without notice.
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