Figures from Consumer Intelligence found that premiums dropped significantly in the late spring and early summer. It found between April and June the lowest five premiums fell by an average of 2.3%.

This contributed to the year-on-year fall of 6.6%, representing a £13 a year decrease.

The five most competitive policies in the marketplace had an average cost of £115 a year, the firm found.

More than half of people are now benefitting from cheaper policies than they did a year ago. Over 50s have seen a bigger than average saving, with typical policies now 6.8% cheaper than in June 2014.

In total 35% of all people with home insurance policies switched provider during the last year.

Ian Hughes, chief executive of Consumer Intelligence, said fewer claims had contributed to a fall in premiums.

“This fall in premiums can be explained by a big reduction in burglaries, and far fewer claims for flood and storm damage,” he said.

“In 1995, just under 9% of homes suffered from a burglary compared to a little under 3% last year. Those switching home insurers this year could see significant savings.”