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New home insurance customers are being offered a range of attractive discounts and incentives - as a price war in the sector continues, a new report states.
A study from financial research company Defaqto claims that many of the UK's home insurance providers are currently in the midst of a price war as they attempt to win new business.
By applying for policies online consumers can, in some instances, earn cashback of up to £125 - with average payouts rising by 60 per cent compared to last year and now ranging between £30 and £60.
And customers who separate their building and contents policies for the home can now end up paying very little for cover, the report states.
Defaqto says that consumers have changed the way they buy home and motor policies - thanks to the growing popularity of broadband internet usage.
"Consumers now have an enormous amount of choice and can easily compare prices online via web price comparison sites. Previously customers got four or five quotes but now they can get dozens very easily," the study says.
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