Loy­alty does not pay for in­sur­ance

Hinckley Times - - NEWS -

LOYAL home in­sur­ance cus­tomers can find them­selves pay­ing a £75-per-year loy­alty penalty for stick­ing with the same provider, con­sumer group Which? has found.

Which? found cus­tomers with com­bined build­ings and con­tents poli­cies owned for longer than a year were pay­ing, on av­er­age, £75 more an­nu­ally than new cus­tomers.

It said that many in­sur­ers do al­low cus­tomers to can­cel their ex­ist­ing pol­icy to take out a new one at a cheaper price.

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