House and Car Insurance Auto Renewals

Check to save money

Readers are advised not to be complacent when it comes to insurance renewals.   Many insurance companies offer an automatic renewal, "No need to do anthing" the renewal letter says.

Our advice is to check with other companies - loyalty to an insurance firm does not pay.   In fact we suspect many firms take advantage of their policy holders.    One reader had a quote for £202.46 for house, contents and legal cover after being with the company for 5 years with no claims.    On checking with another company he was offered the same cover for £153.40.

When telephoning to cancel the £202.46 renewal, the same company offered a revised premium of £130.38 - a reduction of £72.08 with the same company.    So don't take your renewal figure for granted - it pays to check around.   Just ensure that you get like for like cover.