Direct Line cuts contents insurance 50%

With financial worries plaguing the nation, Direct Line is offering new customers a recession-busting 50% discount on home contents insurance.

The insurance provider said economic slowdown is making it difficult for many households to keep up with expenses.

In a recent survey by Direct Line, 22% of respondents thought it acceptable to default on a paid TV subscription payment.

However, contents insurance is not something Brits want to cut back on, with just one in twenty saying they would default on insurance payments.

Given that contents insurance is so important for British consumers, Direct Line believes its 50% discount offer is the ideal opportunity for households to save money on bills.

Andrew Lowe, head of home insurance at Direct Line, said cheap home insurance deals often offer inferior cover, leaving customers exposed when they need to make a claim.

Direct Line’s offer, however, gives customers the cover they need to meet their needs, Lowe said.

Rival provider MORE TH>N, criticised Direct Line’s discount as little more than a gimmick to attract new customers.

Pete Markey, MORE TH>N’s marketing director, said his company rewards customer loyalty, in addition to offering discounts to new customers.

Discuss this in the Finance Markets forums

Story link: Direct Line cuts contents insurance 50%