Homeowners fail to shop for cover

12 November 2007

Survey reveals 10% do not search for a better home insurance policy when renewing

More than 10% of people do not look for a better quote when they renew their home insurance policy because they simply cannot be bothered, a survey has found.

The report for Sainsbury's reveals that up to a quarter of people will shy away from looking for a better price altogether, preferring the easier route of renewing the cover they already have.

Meanwhile, only 1% of those surveyed believe they get the best deal by doing this, and only 10% admit to trusting their provider.

Some 8% of those questioned in the poll added that they do not have time to compare deals on offer from different companies.

Steve Johnson, head of home insurance at Sainsbury's, 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.

"Despite the fact that home insurance premiums are reportedly on the rise, products vary dramatically and there are some cracking deals out there if people take the time to evaluate what's on offer."