Brits are wasting more than £500 million a year by failing to shop around for the best deal on their home insurance. Research by Your Money, in conjunction with Confused.com, found that homeowners are spending an annual £508 million more than they need to on home insurance - equivalent to £180 per household. A second survey [...]

More: Brits overpay £500m per year on home insurance

Ha ha the article says that people don't shop around because of loyalty .. I don't think it's got anything to do with loyalty and everything to do with apathy. Seriously, when do you hear people get excited about insurance? It must be one of the biggest grudge purchases that we ever make, people hate doing it, they hate thinking about it, and they hate spending any time on it. They want the whole process over and done with as quickly and as painlessly as possible. That's why they don't shop around, they're probably willing to pay that extra £508 mil just to get it off their backs.

Maybe insurance companies should take that into account when approaching potential customers in the future? Just remember, we hate you really, so give us a reason to talk to you ... how about a free bottle of wine when we take out insurance with you??

Haha how likely do you think that is to happen! They are money grabbing meanies lol!

I mean I never botther I just renew but last year my friend insisted on checking prices for me and I saved £100!!!! Amazing isn't it how you get intio a habit and just carry on with it!

Ooo could your friend check prices for me too ... maybe there's a business opportunity in that but then I suppose that job is already taken by insurance brokers hey? such a pity that we can't stand talking to them ... or maybe that's just me. Honestly, i put insurance broker in the same bracket as dentists grrrrrrrr a necessary but a hated contact ...

They are necessary but hated I have to admit!

The good thing is these days you can get your quotes on the net and decide for yourself with akll the price comparison websites out there!

I agree - I think a lot of banks depend on it.

I still think a free bottle of good wine works wonders ....

I still think a free bottle of good wine works wonders ....

Haha off course it does not that they are willing to start giving it away though and if they do it will probably be the cheap plonk haha!