Homeowners could save as much as €183 annually on insurance if they shop around, a new survey by the financial regulator has found.

According to the study, which looks at the costs of buildings and contents insurance for homes in Clare, Dublin, Kerry, Leitrim, Meath, Tipperary, Waterford and Galway, some homeowners in six of the eight locations could save more than €100 if they shop around.

A saving of  €183 is available for the owner of a four-bedroom house in Co Meath who selects a policy carefully, while appropriate selection for a four-bedroom detached house in Co Kerry could yield savings of as much as €159 and for a three-bedroom terraced house in Dublin savings of as much as €114.

"When buying and running a home, there are so many expenses, so it is really important to get the best-value financial products," said Sharon Donnery, head of consumer information at the financial regulator.

She also urged consumers to shop around when buying life assurance after a separate survey found that a 37-year-old male non-smoker could save more than €14 a month on a 20-year mortgage protection policy, a saving that would total more than €3,300 over the life of the policy.

The survey also found that there are price benefits for a couple taking out a joint policy rather than two individual policies, with the cheapest quote for two individual policies for two 26-year-old, non-smokers totalling €6 a month more than the lowest quote for a joint policy.

The regulator also urged consumers to check what is included in the policy, with some containing additional cover for fire brigade call-out charges, theft of personal property secured in a car and cash stolen from a home.

More information and the full details of the survey can be found at www.itsyourmoney.ie