New research has found that 14% of Brits have never switched their home insurance, said Go.Compare.

The comparison site also revealed that just 12% renew their building and contents policy every year.

The same research, which surveyed over 2000 people, found that, of those who have home insurance, a further 11% have not switched for more than five years.

However, there some ‘savvy switchers’ out there, with 33% saying that they have switched in the last year.

Why don’t they switch?

When asked why they hadn’t switched, nearly a third (27%) said that their insurer was the cheapest last year so they believed they would be good value again this year. A fifth (20%) said that they wanted to be loyal to their current provider.

When it came to shopping around for a policy, 23% went for the cheapest home insurance product, but 45% say they like to look more closely at their cover levels so they know what they are buying.

Ceri McMillan, home insurance spokesperson for Go.Compare, said: “Home insurance has traditionally been a product that people are less inclined to switch – which is understandable given that it’s there to protect your home and all the belongings within it.

“But it is absolutely worth spending some time when your renewal comes through comparing prices and the levels of cover available. It means that you could get a better deal, and potentially a better insurance policy that does what you need it to do. What worked for your circumstances last year, may not work now.”