What’s the tipping point?
Whilst some of us might be actively inert, we are not a nation against switching. In fact, just a small minority of us have said that there was no amount of money that would convince us to shop around.
The Simples Lab research has found out exactly what the financial saving would need to be to incentivise households to switch – so how much is this ‘tipping point’, and how does it compare to the savings on offer?
The highest ‘tipping point’ was afforded to energy, with the Simples Lab research revealing that we’d be looking for a minimum saving of £99 to switch. The savings required were lower for motor and home insurance, coming in at £66 and £64 respectively.