The dreaded day has arrived, your home insurance renewal is due and a huge bill has landed on your doormat, much to your horror! You have to grin and bear it and pay up of course, because your building society arranged the insurance in the first place, don't you? No, you don't. It is now several years since the right to insist on your buying insurance from their own chosen insurer was taken away from the building societies, and they were not particularly happy about this since (and not many people know about this) they always used to get a whopping great commission from the sale! Times have changed however and you are now free to pick whichever insurance company you wish to deal with, provided that they are a solid and well established company and the insurance policy covers all the usual risks.

Well, you may say to yourself, one insurance policy is just the same as any other so I might as well pay up for the renewal premium. If you do this you may well be throwing many hundreds of pounds into the dustbin, because most of the established insurers will be more than happy to give you a huge discount off the premium simply for switching your business to them! Naturally they assume that you will stay a customer and quite happily pay up the much larger, regular premium next year and every year thereafter but there is a growing number of families who have cottoned on to all this and who change their insurer every single year, so taking the maximum advantage of new customer discounts. It is indeed accepted throughout the insurance industry that round about one quarter of all home insurance policies are not renewed each year, which means that round about 25% of their customers have gone elsewhere, usually in order to find a better bargain!