A quarter of Brits automatically renew home insurance
New research from RAC Home Insurance, part of the Aviva group, suggests that almost a quarter of homeowners automatically renew their home insurance with their existing provider, rather than shopping around to find a better deal.
Some homeowners could therefore be paying 224% over the odds for cover, based on the difference between the lowest and most expensive quotes in each UK region.
Of respondents who do not shop around, 38% said they were happy with their current provider; 24% were too busy; 21% didn’t think they would get better cover elsewhere; 20% were too lazy to be bothered and 16% didn’t think they would get cheaper cover elsewhere.
According to the research, the average amount of time people spend with their home insurer is just over four years, with consumers aged over 55 the most likely to automatically renew their policies.
Category: Aviva News, Home Insurance News
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