Staying loyal to an insurer can cost families up to £1,000 a year.

Firms overcharge by up to three times to fund their cut-price deals for new customers.

Long-standing customers are offered good rates only if they challenge renewal quotes or threaten to leave.

This is yet another key indicator that whilst there is so much out there in terms of innovating an incumbent insurance industry, there is still so much potential for more, for a real GAME CHANGER!