Homeowners start browsing for the best deal

by Richard Kilner

Story link: Homeowners start browsing for the best deal

Consumer Intelligence’s monthly survey of home insurance buyers has revealed a sharply rising trend in price volatility recent months.

Ian Hughes, the firm’s managing director, explains that consumers have known about the significantly greater value for money that can be achieved by switching motor insurance for some time, and have simply applied the browsing principle to home insurance.

The recent and severe increases in energy and mortgage costs have fuelled the process and consumers look for ways to reduce expenditure.

Almost seven in ten motorists used a price comparison website prior to renewing their policy, compared with just over four in ten homeowners doing the same with their home insurance.

Although homeowners have traditionally been less prone to browsing and trying to exploit the significant savings that are there to be found, rising costs and economic difficulty forecast in the future has promoted shopping around for the best deal available.

Hughes advises homeowners looking to find a more useful policy to look at price comparison websites, in addition to the big names in home insurance.