UK Money News
24th April 2008
Huge savings for shopping around for home insurance
Taking the time to shop around for a home insurance policy can yield huge savings, according to research from a price comparison site.
Gocompare.com looked at the prices of cover in a range of locations in the UK and found that in some cases the difference between the average cost of a policy and the cheapest one on the market was sometimes as much as 45 per cent.
This was the case when insuring a three bedroom property in London, where the average cost was £567.69.
However, the cheapest deal for the same property costs just £314.50.
Hayley Parsons, chief executive of Gocompare.com, said; "As our figures show, the difference in premiums between insurance companies can be quite significant so it is important that you don't just accept the first quote that you are given.
"Our examples show that by picking the lowest price each time as opposed to the average price, it can be possible to get the equivalent of three years cover for the price of two."
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