It’s vi­tal to shop around for best deal

Daily Express - - NEWS -

THERE is no le­gal re­quire­ment to buy home con­tents in­sur­ance, but mort­gage lenders usu­ally re­quire bor­row­ers to have build­ings in­sur­ance.

The sum in­sured must typ­i­cally be enough to meet the prop­erty re­build­ing cost.

Mo­torists, though, are legally obliged to hold a valid in­sur­ance pol­icy to cover third-party risks.

To drive down costs, shop­ping around is cru­cial. It will be months be­fore the FCA re­leases its fi­nal re­port with rec­om­men­da­tions which could lead to cheaper pre­mi­ums.

So con­sumers are ad­vised to search out bet­ter deals from com­par­i­son web­sites or by ap­proach­ing other insurers di­rectly.

Even if you don’t want to move providers, you could use quotes to try to haggle down the price.

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