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Home Insurance Apathy Costs Britons £1.4 billion Per Year

More than half (56%) of homeowners have not reviewed their home insurance policy for more than three years, costing Britain a whopping £1.4 billion annually, according to Confused.com.

These worrying findings show that the majority of homeowners either trust that the renewal rate which their current insurer is quoting is the best deal that they can get, or are just generally apathetic when it comes to searching for the best deal. Worst still, some homeowners believe that opting for the bank's own insurance product will better their chances of being approved for mortgages - an issue which could become all the more pertinent during the credit crunch - although this is certainly not the case.

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Date: 9th, October, 2008

Author: Ben Wilkie

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