Loyalty To Insurers Can Prove Costly

Published: 6/12/2010

According to Tesco Finance the cost of not changing home insurance companies last year totalled GBP26 million.

The study found that almost two thirds of people remained with their existing insurance providers when it came to renewal time, even though almost half of them saw the cost increase over the previous year. For around 4 million of them the increase was more than the level of inflation, said a Tesco Finance spokesman, even though only a small number of these had increased their cover or made a claim.

The advice that comes out loud and clear from Tesco is that everyone should at least get a couple of alternative quotes at renewal time to make sure they are getting the best home insurance deal available.