Brits becoming apathetic about travel insurance

Brits are becoming apathetic when it comes to renewing their home insurance, one expert has warned this week.

According to Mark Dawson, who writes for the Loan Arrangers, while many homeowners believe this attitude will relieve them of stress, it may cause them more monetary pressures in the long run.

His comments follow research conducted by TescoCompare which revealed that around two-thirds of consumers decided to continue with their current provider when renewing their premiums.

This statistic is surprising considering that 44 per cent of homeowners were faced with an increase in the cost of their policy, suggesting that shopping around might pay off.

Paul Baxter, spokesperson for TescoCompare, said: "The message behind this research is clear - many millions sleepwalk through their insurance renewal allowing their insurer to increase premiums unchallenged."

He added that homeowners should throw consumer loyalty out the window and start thinking with their wallets if they want to get the cheapest and "most appropriate" policy for their property.

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