Virgin Money has launched a new range of home insurance policies.

It says it guarantees to provide its best possible price for renewal at the first time of asking, rather than initially offering a higher renewal quote, before reducing it if customers complain after shopping around and finding a better price.

Virgin Money also offers customers its new home insurance range at the same price, however they choose to buy – online, on the phone or through a price comparison website.

Darrell Evans, Virgin Money’s current accounts, insurance and investments director, said: “Many home insurance companies make customers jump through hoops to get a fair price. We don’t behave in that way – and our ambition has been to launch a range of products that move the market on for the benefit of the customer.

“With Virgin Home Insurance, our customers get the same price however they choose to buy, a guarantee that we will offer them our best price at the first time of asking when they come to renew, and we don’t have administration fees designed to catch customers out when they need to make minor changes part-way through their policy.

“Customers have told us they are totally fed-up with the way that the insurance market works today, and so our aim has been to find a way to make things better. With our new Home Insurance we will simply offer the best price we can, first time and every time. No quibbling, no painful negotiation, no annoying administration fees, just our best price.”