Consumer magazine Choice has advised readers to compare prices and read a few similar policies to ensure they get the best deal in personal lines insurance.

In an article in its March edition, Choice says it has previously found differences between the highest and lowest quotes from insurers were on average $2230 for young drivers, $315 for adults and $340 for older drivers.

It also found the annual premium difference between the cheapest and most expensive home policies was $280 for defined events cover and $190 for contents.

“Bundling” policies with one insurer isn’t always a good move, Choice says. Some of its readers “found that switching between the best-value insurers at renewal was better value, even after taking loyalty discounts into account”.

“You might be better off shopping for each policy separately. Ask your present insurer to match the best price you’re quoted.”