More than a third of consumers fail to shop around for the best insurance deals, according to research commissioned by the British Insurance Brokers Association (Biba) in conjunction with NOP.
Older people are the most complacent about their insurance, with almost half of the over 55-year-olds not shopping around.
Biba's chief executive, Mike Williams, said: “We believe that up to 85% of the UK population could save money on their insurance premiums by making a few simple phone calls or logging onto the internet to get expert independent advice from a broker.”
Williams warned that lack of research could lead to people being stuck with a policy which was too expensive.
