Loyalty does not pay for insurance
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.