When your home insurance renewal arrives, it's easy to accept the quote and move on. But while staying loyal to your insurer may seem convenient, it could mean you're paying more than necessary or missing out on cover that's better suited to your needs.
When your home insurance renewal arrives, it's easy to accept the quote and move on. But while staying loyal to your insurer may seem convenient, it could mean you're paying more than necessary or missing out on cover that's better suited to your needs.
At Crystal Clear Financial Planning, we help homeowners across Derby and throughout the UK review their home insurance, ensuring that they have the right level of protection at a competitive price.
Fewer Homeowners Are Comparing Home Insurance
Recent research from Consumer Intelligence found that fewer UK homeowners are shopping around when their home insurance is due for renewal.
- Compared with the beginning of 2024:
- Shopping around for home insurance has fallen by 8%.
- The number of people switching insurers has fallen by 7%.
- The biggest decline was among homeowners aged 35–54, where comparison activity dropped by 12%.
This suggests that many homeowners are automatically renewing their existing policy without even checking to see whether it still meets their needs.
Why Are Home Insurance Premiums Increasing?
Many homeowners have also experienced rising insurance premiums.
Research found that among customers renewing between March 2025 and February 2026:
- 54% received a higher renewal premium.
- 26% saw no change.
- Only 18% paid less than the previous year.
While insurance premiums are influenced by factors such as inflation, increasing repair costs and weather-related claims, it's still worth reviewing your options before renewing.
Home Insurance Isn't Just About Finding the Cheapest Price
Although saving money is important, choosing home insurance shouldn't be based solely on price. The cheapest policy isn't always the best policy.
A good home insurance policy should provide the right level of buildings and contents cover for your circumstances, while offering suitable protection should the unexpected happen.
Consumer Intelligence found that many homeowners stayed with their insurer because:
- They were happy with their level of cover.
- They had received excellent customer service.
- They believed they were already receiving competitive pricing.
These are all valid reasons but it's still worth checking that your policy continues to meet your needs.
Has Your Home Changed?
Your insurance requirements can change over time.
It's important to review your cover if you've:
- Extended or renovated your property.
- Built a conservatory or home office.
- Purchased expensive furniture, jewellery or technology.
- Installed security improvements.
- Started working from home.
- Experienced significant changes in your household.
If your policy hasn't been updated, you could find yourself underinsured if you need to make a claim.
Why Use a Home Insurance Broker?
Comparing multiple insurance providers yourself can be rather time-consuming!
An insurance broker can search through a range of insurers, explain the differences between the policies available and help you to find cover that's appropriate for your property and circumstances - not simply the lowest price.
At Crystal Clear Financial Planning, we help homeowners across Derby and nationwide review their buildings and contents insurance, giving you confidence that your home and belongings are properly protected.
Looking for Home Insurance Advice?
Whether your renewal is approaching or you simply want to check you're getting good value, we're here to help!
As with all insurance policies, terms, conditions and exclusions will apply.
Sources:
https://www.barratthomes.co.uk/advice-and-inspiration/is-buying-a-home-stressful/
