Mankind's one united mantra would be "securing the best deal at the lowest price." We spend hours researching, bartering, and moving from store to store in our quest to save some money while walking away with a deal to die for.

This life philosophy isn't shared by Barclay's Insurance who believe we waste money not searching enough for the cheapest option in home insurance (that is if you trust an insurer to tell you that). In fact, they believe that Briton's could be saving themselves approximately £112.95 per annum if they shopped around for home insurance.

The problem with this statement is that it makes a big assumption that home owners have full information of every product and price available. I'm sure most people do shop around for their home insurance but there are so many more factors that present themselves when it comes to putting the money on the table than sheer price.

For instance, we had to make a claim on our contents insurance about 8 years ago after some towels which were drying near our open fire caught alight and burnt the carpet. Within 24 hours an assessor arrived to investigate the claim and told us to get quotes not only for the carpet but also for the towels. A short while later all was repaired and the costs were unseen by us.

Do you think we changed insurers? Not likely. Instead, we've never considered even looking at another insurer and we've told our friends how good this company is. Do we have the cheapest home insurance? Probably not. But we are assured that if we ever need to claim on it we will be well looked after.

Isn't that what insurance is about anyway? Consumers don't always need to buy the cheapest to have bought the best deal.