Loyal customers pay £75 more on home insurance
A study by consumer group Which? claims home insurance customers who have been with their insurer for more than a year paid on average £75 more than new customers for combined policies. The data comes from a survey of 5,592 owners of buildings and contents (combined) policies. New customers said they were being charged a median premium of £195, while those who had been with the insurer for one to two years paid an average of £220. If they were loyal for four to six years, the average was £300.