General
Apathy costing home insurance customers
Apathy could be costing the nation’s homeowners millions, according to Post Office Home Insurance.
It found that customers are reluctant to shop around for contents and home insurance with 39 per cent of homeowners relying on their mortage provider’s cover.
More than three quarters of UK homeowners also stay with the same insurance provider year after year.
Yet the Post Office believes that many could find cheaper deals elsewhere and save and average of 41 per cent.
Claire Oldstein, head of Home Insurance at Post Office®, said: "Changes to the law six years ago prevented lenders from forcing homeowners to buy their home insurance through them. However, nearly half of consumers still seem to be doing so. Mortgage providers don’t always offer the best value for money when it comes to home insurance, so it really is wise to explore other options.
"Whether you are a homeowner or renting, the best advice is to shop around every year. Fifteen minutes spent checking out the offers of a couple of other providers could be time well spent when it comes to the savings you can make."
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