According to a recent survey, only 30% of us shop around for different quotes when buying home insurance, and Brits are wasting over £500 million by not shopping around.
Home insurance should be treated like car insurance in this respect – you should see if you can get a cheaper deal each year, as your existing insurer will probably not reward your loyalty – they’ll charge you a higher premium than if you were a new client, and rely on your inertia (or more realistically, the fact you can’t be bothered to do the legwork contacting a few different providers or comparison sites).
It can also pay to check whether seperate buildings and contents insurance are cheaper than getting both in the same package from one provider.
As ever, this can mean a little more effort when it’s time to renew, but the savings to be made are surely worth the time it will take.