A quarter of property owners 'not shopping around for insurance'

A proportion of homeowners in the UK could be missing out on home insurance savings as they are not shopping around for deals.

Research from Sainsbury's Bank has shown that 43 per cent of consumers choose to either renew or only look at one other provider each year.

Some 26 per cent did not even shop around for an additional quote when their existing deal expired.

Company spokesperson Steve Johnson commented that it is important that homeowners realise the importance of researching the market.

He said: "Although it may seem tempting to just stick with your renewal quote or the first quote you get, it really is essential to shop around."

"Products vary dramatically and there are some cracking deals out there."

Last Monday was Bonfire Night, one of the busiest times of the year for home insurance companies and policy holders seeking claims.



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