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 research undertaken by Tescocompare it was revealed that just less than two-thirds (64 per cent) of Britons reached the decision to stay put with their existing building and contents insurance supplier when they last had to renew their premium. Such a proportion comes despite almost 44 per cent of Britons facing a rise in the cost of their house insurance policy. Furthermore, it was shown around four million of such consumers have seen their premiums rise at a greater rate than that of inflation. However, the price comparison website announced that with the average insurance policy worth some 283 pounds, had those nearing the renewal of their premium decided to switch for a cheaper policy then they would have saved a total of 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.

In addition to paying out higher amounts of cash than they need for a home insurance policy, it may well be that people discover that they are developing difficulties in managing further constraints on their expenditure. Such areas may well include credit and store cards, loans, mortgage repayments and household bills.

In addition, it is quite possible that a large quantity of people are willing to place themselves under additional financial pressures. Of those that decided to remain with their provider, 48 per cent feel that they had plenty of time to find an alternative supplier ahead of being hit with a price add extra to although they finally ended up staying with the same provider.

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 who intend to carry out repairs to their house or make any major household purchases - double glazing, conservatory or a car for example - taking out a cheap loan might be a recommended course of action. The additional financial help that a cheap loan brings could also assist borrowers to take out a comprehensive home insurance policy which is also competitively priced to ensure that such objects 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 Loan-Arrangers .co.uk where visitors can compare loans online. Then apply for the best secured loans and bad credit loans available.