Not switching home insurance cost Brits £26m last year

Of those that saw an increase in excess of inflation – just 16% made a claim on their policy in the last year and only 5% increased the level of their cover – suggesting over 3 million homeowners simply took the price increase for granted.

Worryingly, only just over one in five (22%) admitted to thinking about moving their policy, despite seeing a price increase above inflation. Also – only one in twelve (8%) shopped around and discovered they couldn’t get the insurance cheaper anywhere else,