Shopping around nets best deal on home insurance

The difference between the average price and the cheapest home insurance policy can be as much as 45% according to new figures from insurance comparison site Gocompare.com.

The Gocompare.com research reveals that the gap between the cheapest home insurance policy and the average priced policy is such that customers who shop around each year could effectively get three years cover for the price of two.

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. At the very least, shopping around will enable you to see how your renewal quote compares with a much wider range of policies. 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. However, whilst significant savings can be made, it's important that you compare insurance policies on the cover that they provide, and not just the price."

Gocompare.com's Home Insurance service lets you input your details once and compare more than 20 insurance brands including The AA, Budget, Endsleigh, esure, insurepink, Kwik-Fit, MoreThan, Sheila's Wheels, Swinton and Zurich home insurance.