Shopping around for cover saves millions

14th September, 2005

Homeowners who shop around for their home insurance cover rather than stick with their mortgage providers save millions, says new research.

Two in five homeowners do not take the time to look around for quarter of an hour for a cheaper deal, ultimately costing them money says the Post Office.

Furthermore, once with a home insurance provider, consumers tend to stay with then ever year, and with savings of up to 40 per cent available by shopping around, 15 minutes minutes' work should not seem as tiresome.

The Post Office points out that six years have elapsed since homeowners were forced to buy home insurance through their mortgage providers and says it is important to look around for home insurance because they don't always offer the best deals.

'Whether you are a homeowner or renting, the best advice is to shop around every year. Fifteen minutes spent checking out the offers of a couple of other providers could be time well spent when it comes to the savings you can make,.' said Claire Oldstein, head of home insurance at the Post Office.

 

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