Barclays Home Insurance: Brits are overpaying to insure their homes

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Barclays Home Insurance: Brits are overpaying to insure their homes

Mon 7th Aug 2006

Homeowners in the UK are overpaying on their home insurance by an average of £112.95, according to the latest research by Barclays Home Insurance.

The study from Barclays found that while many people change their energy or credit card provider in search of a better deal, this is less likely when it comes to saving money on home insurance cover.

Overall losses of the UK population amount to an average of £1.7 billon a year and an uncompetitive policy could be costing Brits around £9.50 a month.

Mark Till, marketing director at Barclays Insurance, commented: "It is amazing to see that people are unaware how easily they can switch their home insurance to a better deal."

"We actively encourage people to shop around to find the best deal to ensure they get the best value home insurance," he added.

Barclays has a range of financial products including mortgages, current accounts and personal loans.

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