Nearly three million people are confused over who they have to buy their
home insurance from, according to research by Sainsbury's Bank.
A total of 2.94 million people wrongly think that they must buy buildings cover from their mortgage provider in order to secure the lending, the firm states.
The results suggest that the population are generally apathetic towards shopping around for
home insurance, despite the possibility of making significant savings should they do so.
Steve Johnson, head of
home insurance at the firm, comments: "Despite the fact that
home insurance premiums are reportedly on the rise, there are some great deals out there if people take the time to evaluate what's on offer."
The company recently advised policyholders to reduce the chance of having to make a claim by carrying out an "MOT" on their property before the onset of winter weather.
Consumers shopping around for a deal on
home insurance may find they can get a competitive quote from
InsureandGo.