Too Loyal To Your Home Insurer?

Recent research indicates that fewer home insurance customers are shopping around and switching providers, which means they could be missing out on more suitable deals.

According to Consumer Intelligence, the number of consumers who are shopping around for new home insurance policies has fallen by 8% since the start of 2024. Similarly, the number of people who have made a switch has gone down by 7%, suggesting that policyholders are becoming increasingly loyal to their providers.

The research found that this trend is evident across all age groups. The largest decline in shopping around was seen among consumers between 35 and 54, where activity fell by 12%. Meanwhile, the smallest drop was recorded among consumers aged 55 and above, although the decline of 5% still points to fewer people comparing policies before renewing.

Premiums on the rise

Many customers have noticed a rise in the price of their premiums, indicating that many people are sticking with the same policy even when the price increases. Among respondents who renewed their policy between March 2025 and February 2026, over half (54%) said that their renewal quote was higher than the previous year. A quarter (26%) said the price remained unchanged and only 18% saw the price decrease.

It’s not all about price

Although cost is an important consideration, choosing home insurance should never be solely about finding the cheapest premium. The right policy should provide an appropriate level of protection for your property. When survey respondents were asked why they did not shop around for an alternative policy, 13% said that they were satisfied with the current level of cover. Meanwhile, 10% said they had excellent service and a further 10% believed their insurer offered competitive pricing. These findings highlight that comprehensive cover and a reliable insurer are just as important as a policy that is good value

The importance of advice

Even if you are happy with your current insurer, it is important to review your policy as your circumstances may change over time. If you have renovated your home, you will likely need a different level of cover to reflect the new rebuild cost.

We understand that it can be easier to stick with what’s familiar, but you could be losing out on a policy that is better suited to your needs. Switching providers does not have to be time-consuming when you’re working with a professional adviser. We’ll do the research for you, so you can make an informed decision and have peace of mind that your home is appropriately insured.

As with all insurance policies, conditions and exclusions will apply

Sources: https://www.insurancetimes.co.uk/analysis/shopping-and-switching-rates-continue-to-fall-among-home-insurance-customers/1458595.article

https://www.consumerintelligence.com/articles/why-softer-pricing-hasnt-reignited-switching