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Reviewing insurance is worth the bother

I recently renewed my car insurance. I normally shop around for the best price and cover but, with so much else going on, I just wanted it done and so simply extended the contract with my existing provider for another year.

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It’s not extortionate and it means I can drive legally. Job done. Of course then I started to see advertisements for cheaper quotes and wondered whether I had perhaps been too hasty.

I saw some media coverage of research by Confused.com this month which revealed that 34% of people had never switched their home insurance provider.

A third said that they had not done so because they couldn’t be bothered.

We’ve probably all done that but when you look at the figures you see that overall Britons could be saving a staggering £1.7bn if they took the time to look at other options.

However, it’s not just home insurance. There tends to be apathy across the board among Britons when it comes to insurance.

We recently did a survey which found that of those who did have appropriate protection insurance in place, almost half – 47% – had never reviewed their cover.

We all know that life changes like buying a house, changing jobs or starting a family signal a need to review protection insurance, to ensure that it is fit for purpose.

But potentially there is also a lot to be gained by consumers occasionally reviewing cover anyway, just to be certain they are getting the best deal and, crucially, the right cover.

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