Whether someone is looking for a current account or car insurance policy, comparing products and selecting the right product can be difficult. According to new research a third (29%) of Brits admit to finding the prospect of purchasing important financial products daunting. This comes as it has been revealed that only half (56%) of us confess to fully understanding what's provided by their current account, and only a third (32%) fully understand what benefits they receive from their home insurance.
By failing to focus on what a product offers, Brits are feeling the repercussions, with over one in ten (12%)
admitting to missing something important, and 7% having lost out financially. However, despite paying little or no attention to our finances, us Brits are more concerned about minor purchases and are spending time conducting a lot more research when it comes to these other purchases, such as mobile phones (67%), televisions (62%), and dining out for the evening (46%).
Star Ratings help people focus on more than just price by indicating where a product sits in the market based on the features and benefits it offers.
For more information please visit www.defaqto.com/stars.
Footage courtesy of Independent Media News.