CONFUSED.COM REVEALS APATHY AND BULLYING TACTICS IN HOME INSURANCE MARKET

News release CONFUSED.COM REVEALS APATHY AND BULLYING TACTICS IN HOME INSURANCE MARKET • 43% of the UK believe staying loyal to their home insurance provider will get them a better deal • 34% said they felt bullied by their bank or mortgage provider into buying home insurance • One in five can’t be bothered to switch New research from Confused.com has revealed that home insurance providers are cashing-in on customers’ misplaced loyalty, after it discovered 43% of the UK believe staying loyal to one home insurance provider will get them a better deal. The price comparison site estimates this could collectively be costing home owners over a billion pounds every year.* Furthermore 34% said they had felt bullied by their bank or mortgage provider into taking home insurance with them and 8% of those asked said they didn’t know they could switch. Gareth Kloet, head of home insurance at Confused.com, said: “It is startling that so many people have felt forced into taking home insurance with their mortgage provider or banks; customers are being duped into uncompetitive deals. “And it seems the fear and misunderstanding doesn’t end after they’ve bought the policy, with many believing they need to remain with their home insurance provider to get the best deals. It’s paramount that customers understand loyalty does not pay. Home insurance isn’t the same as having a Tesco Club Card; a customer won’t get points or prizes for remaining loyal. In fact, they’re likely to pay more. Confused.com also found that 37% of people believed being loyal will increase the chances of a payout on a claim and less that one in three has switched home insurance in the last year. One in five said they just couldn’t be bothered to switch. Gareth continues: “In terms of claims a person has as much chance of one being paid out if they’ve been with their insurer for 1 year or 10 years. The important thing is to ensure they have home insurance cover, there are no rules in place to say it has to be with the same provider.” -Ends- *£1 billion of savings assumes that 10% of UK households (26 million) with home insurance (15.6 million) save £273 each (based on actual savings of Confused.com customers in May-June 2010), totalling savings of £425 million. Other UK households with home insurance save £50 each, a total of £702 million. Collectively, UK households with home insurance could save in excess of £1.1 billion. For further information please contact the confused.com press office: Kelly Davies 02920434272 kelly.davies@confused.com Notes to editors About Confused.com Confused.com is one of the UK’s biggest and most popular price comparison services. Launched in 2002, it generates over one million quotes per month. It has expanded its range of comparison products over the last couple of years to include home insurance, travel insurance, pet insurance, van insurance, motorbike insurance, breakdown cover and energy, as well as financial services products including credit cards, loans, mortgages and life insurance. Confused.com is not a supplier, insurance company or broker. It provides a free, objective and unbiased comparison service. By using cutting-edge technology, it has developed a series of intelligent web-based solutions that evaluate a number of risk factors to help customers with their decision-making, subsequently finding them great deals on a wide-range of insurance products, financial services, utilities and more. Confused.com’s service is based on the most up-to-date information provided by UK suppliers and industry regulators. Confused.com is owned by the Admiral Group plc. Admiral listed on the London Stock Exchange in September 2004. Confused.com is regulated by the FSA.