I was convinced that I had got a really good home insurance deal when the insurance arm of my bank called out of the blue and convinced me that I should transfer to them because, based on the annual premium I told them I was paying, they could do a lot better, apparently because I live in a 'good' post-code area. They were right, the new quote was much lower, so I shifted my house and contents insurance to the bank pronto.

Imagine my surprise when my bank contacted me less than a couple years later and said they could beat my existing home insurance quote! "I don't think so" I said, "because I'm with you already". "I know", the Antipodean lady said, "that's why I'm calling you".

So, after 10 minutes on the phone checking that the new insurance cover was as good, she quoted a premium that was only 55% of the amount I was paying – to the same bank!

After thinking about this for a nanosecond I asked her to cancel the current insurance and start the new policy straightaway. " I can't do the cancellation mate" she said. " You will have to call this number and speak to the cancellations section". So I did.

The moral here is that retail banking is such big business these days that you can be ripped off and sold a bargain by the same organisation!"

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