British homeowners are losing £1.4 billion annually by not shopping around for the best home insurance deal, according to Confused.com the comparison website .
The study revealed that most homeowners either accept the renewal rate provided by their current insurer, or they just don’t bother to look elsewhere. Many also mistakenly assume that their chances of being approved for a mortgage will be higher if they take out their home insurance with a particular bank .
Darren Black, head of home insurance at Confused.com, said that homeowners could save £186 a year by using the site to search for a home insurance policy .
Recently, Confused.com also found that a similar lack of enthusiasm meant that Britons are wasting £6.8 billion a year on energy bills . The website says there are around 14,000 tariffs available and consumers should check on a regular basis to see if a better deal can be found.
Britons loose millions a year in home insurance apathy
Wed, 08 Oct 2008
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