Many UK consumers use price as their sole guide when buying insurance, which often results in them not having fully comprehensive cover.
That is according to new research published on Tuesday (April 1st) by Tescocompare.com, the car insurance comparison website, which revealed that in the last year one million Brits have been unsuccessful in claiming on a travel, home or car insurance policy.
The site claimed that many people do not understand the policy that they are taking out, despite carefully checking the details before buying.
Paul Baxter of Tescocompare.com commented: "Insurance policies can be complicated, and it is not surprising that so many people find themselves in a situation where they thought they were covered when in fact they weren't.
"The predication - fuelled by many comparison sites - to simply purchase car insurance on price alone perhaps contributes to this lack of understanding."
