Although having a 'can't be bothered' might mean that homeowners have one less issue to think about when it comes to renewing their insurance policy, doing so could leave them under more financial pressures.

In a recent study carried out by Tescocompare it was revealed that slightly less than two-thirds (64 per cent) of Britons made the decision to stay put with their existing home and contents insurance supplier when they were last required to renew their premium. Such a high number comes in spite of almost 44 per cent of Consumers facing an increase in the cost of their house insurance policy. On top of that, it was shown around four million of such people have seen their premiums increase at a faster rate than that of inflation. Meantime, the price comparison website announced that with the average insurance policy costing 283 pounds, had those approaching their insurance policy renewal chosen to switch for a more competitively priced policy then they would have collectively saved some 26 million pounds.

The study by Tescocompare also indicated that only a little more than a fifth (22 per cent) of people interviewed who were facing a price hike above the rate of inflation considered switching supplier. Out of these people, only eight per cent found that they were unable to get get the same level of cover for less money.

Additionally if they are paying out more money than required for a home insurance policy, it could be possible that consumers discover that they are developing difficulties in managing other constraints on their spending. Such areas may well include credit and store cards, loans, mortgage repayments and household bills.

Additionally, it is quite probable that a large number of consumers are willing to place themselves under further financial pressures. Of those who opted to stay with their provider, 48 per cent feel that they had enough time to change supplier well in advance of of being hit with a price increase although they eventually ended up staying put.

Spokesperson for Tescocompare, Paul Baxter, said "The message behind this research is clear - many millions sleepwalk through their insurance renewal allowing their insurer to increase premiums unchallenged. Regardless of how loyal you are to your current home and contents insurer - you should shop around at each renewal to make sure you get the cheapest and most appropriate insurance for you."

For those consumers looking to carry out repairs to their house or buy major domestic items - fridges, settees and ovens for example - taking out a cheap loan might be a recommended course of action. The additional financial assistance that a cheap loan brings could also help borrowers to take out a comprehensive home insurance policy which is also competitively priced to ensure that such things are covered.

A loan could also be of help for consumers requiring to insure their pets. In a new study carried out Sainsbury's Finance indicated that 11 million Consumers do not have cover for their cat or dog, with around 4.6 million of such consumers believing such a premium is unimportant. Meanwhile, should people not have insurance for their animal they may have to dip into their pockets should their four-legged friend fall ill, with the typical bill for vet treatment indicated to cost about 300 pounds.

Mark Dawson writes for the Loan Arrangers. Where visitors can compare UK loans online, and apply for the lowest rate secured loans available to them. To read more articles from Mark go to http://news.loan-arrangers.co.uk