Home and car insurance customers who used a price comparison site to look at different quotes made savings by doing so, which could prove beneficial in the current difficult economic conditions.

According to Confused.com, consumers who used its aggregator site to contrast and compare different cover packages saved an average of £193.81 on their home insurance while motorists saved more than £208.18 each.

Simon Lamble, product director at the company, claims the figures show the importance of perusing offers from other providers rather than settling for one price.

"It is certainly worth shopping around on comparison sites for the best possible deals. Many people never change their insurer out of loyalty, but it is important to look into whether the insurer in question is being loyal to the customer," he said.

Mr Lamble added that consumers should expect renewal figures to decrease year-on-year provided the policy has not been affected by building work or penalty points.

Recent research by Tescocompare.com found more than 2.5 million people in the UK saw their home insurance premiums increase above inflation at the last renewal date.

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