Whilst having a 'can't be bothered' may mean that homeowners have one less concern to worry about when renewing their insurance policy, such action could leave them under more monetary pressures.

In a recent study carried out by Tescocompare it was indicated that just under two-thirds (64 per cent) of Britons reached the decision to opt with their current building and contents insurance provider when they were last required to renew their premium. Such a proportion comes despite almost 44 per cent of People facing an increase in the cost of their property insurance policy. Furthermore, it was indicated around four million of such people have witnessed their premiums go up at a faster rate than that of inflation. Meanwhile, the price comparison website indicated that with the typical insurance policy worth some 283 pounds, had those approaching the renewal of their premium opted to switch for a cheaper 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 highly likely that a large number of consumers are willing to place themselves under additional financial pressures. Of those that decided to stay with their provider, nearly half feel that they had plenty of time to change supplier ahead of being hit with a price add extra to although they finally ended up staying with the same insurer.

Paul Baxter, spokesperson for Tescocompare, 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 may also be of help for people wishing to insure their pets. In a new piece of research 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 not important. Meantime, should people not have insurance for their animal they may have to dig into their savings should their four-legged friend fall ill, with the average bill for vet treatment shown to cost about 300 pounds.

Mark Dawson writes for Loan-Arrangers .co.uk where visitors can compare loans online. With online application for everything from homeowner loans to tenant loans.