Charity Citizens Advice has suggested that insurance companies could be charging up to 13m UK households too much for their insurance cover.
A poll conducted for the charity found that older people are particularly vulnerable to these costs.
According to the research 40% of people over 65 have had their home insurance policy for over five years, which the report stated means they could be paying 70% more than a new customer would for the same policy.
It continued that for someone with the
The Insurance Age team unpick the most recent and most popular stories.Subscribe to our daily newsletter for all the latest news
- Hobbs reveals Allianz’s £35m debut at Lloyd’s
- UK Broker Awards: Winners revealed
- Samways retires after decade at Miles Smith
- Clear set to make more deals this year
- Clive Edwards becomes CEO of Aspen Insurance UK
- Tokio Marine Kiln restructures management
- FSCS pays out to Lamp GAP and health customers