Consumers stand to save €362 on home insurance

Consumers can potentially save up to €362 on their home insurance, if they shop around.

That is according to a new price comparison survey from the National Consumers Association.

The survey, which compared quotes from eight insurance firms, also finds that most companies are willing to negotiate with consumers who present them with quotes from competitors.

However director of research and policy at the NCA, Fergal O'Leary said that sometimes the cheapest quote might not necessarily be the best one - and he is urging consumers to check the terms and conditions.

"The lower the excess the better the chances you will be spending more money on the premium although that is not often the case and it is something people should check," he said.

"If you have valuable items make sure they are covered to the right amount…check with the provider to what level they are covered."