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Haggle to save [euro]360 on home insurance; FINANCES.


HARD-UP homeowners can save more than [euro]360 a year by shopping around for insurance.

The National Consumer Agency yesterday warned people not to fall for a first quote - even if it seems reasonable.

And it advised shoppers to force down the price of cover by getting quotes from competitors.

The agency's latest home insurance comparison survey revealed up to [euro]362 can be saved just by shopping around.

The study compared quotes from eight firms and found most are willing to haggle with consumers who hit them with competitors' quotes.

Six out of the eight companies surveyed said they could cut a deal with existing customers on renewals if they were able to get the same service cheaper elsewhere.

NCA research director Fergal O'Leary added: "This research demonstrates consumers can make significant savings on their home insurance if they are prepared to get a couple of quotes before taking out insurance.

"It is clear consumers are in a much stronger position if they get quotes from competitors."

A potential saving of up to [euro]362 on the price of insurance for a two-bed terraced house in Waterford City was found. The most expensive quote was [euro]546, while the cheapest was [euro]184.

The average quote for this profile was [euro]278.

The biggest percentage difference in quotes provided - 341% - was found for contents cover for a two-bed apartment in Co Dublin.

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Publication:The Mirror (London, England)
Date:Sep 19, 2013
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