23
Mar
Property owners urged to shop around for insurance
People should shop around when it comes time to renew their home
insurance, it has been suggested.
According to figures released by moneysupermarket.com, property
owners are losing an average of £131 a year by automatically
renewing with the same provider.
The organisation noted that policies can cost from as little as
£124 per year, but many people are spending considerably more
than they need to.
Head of home insurance at the price comparison website Julie Owens
said: "By not shopping around for home insurance Brits are
effectively watching their hard earned cash go down the
drain."
She also advised that, while home cover is not a legal requirement,
it is an important product to have.
Recently, Steve Foulsham, technical services manager for the
British Insurance Brokers' Association, pointed out that icy
weather during the winter months caused a rise in the number of
insurance claims made by homeowners, with burst water pipes often
to blame.
