If you compare the lowest and highest quotes available in some regions, the price of auto renewal could equate to paying a price premium of up to 224% on your home insurance.
So while the average householder can make a significant saving by shopping around online, it’s likely that people who need high net worth home insurance could make big savings by enlisting the help of a specialist insurance broker or reviewing the arrangements their existing broker has made on their behalf.
Finding the best home insurance deals
The RAC research uncovered some of the reasons why people don’t look around for better insurance deals.Of the people who don’t shop around, 24% said they were too busy, 21% doubted they’d find better cover, 20% were too lazy to look elsewhere, and 16% didn’t think they’d be able to find cheaper cover.
And although 38% of this group claimed to be happy with their existing provider, 71% of all householders feel that loyalty to a particular insurer isn’t rewarded.
So if you normally renew your home insurance automatically, it’s worth taking a moment ask yourself what benefits you gain by doing so. And if you require high net worth insurance, take time to talk to a specialist broker about ways you could save.
You may find that by doing so, you’ll not only get you a better price but enjoy better cover for your money.
MoneyHighStreet.com comments: “There’s one major lesson that comes out of this new research – the more you pay for your home insurance, the more important it is to benefit from the best deals.
Whether you arrange your insurance online or via a broker, the chances are that you can find better cover at a lower price offered by your existing insurer.
Why not make it your personal finance goal for the week to see how much you can save?”
Source http://www.moneyhighstreet.com/
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