Barclays slashes home insurance prices

Home insurance provider Barclays has announced that its prices for household cover will be cut by 50 per cent.

This deal applies to its Standard Contents home insurance package for cover up to £50,000 and its Standard Building policy up to £500,000 and customers who apply online will receive a further ten per cent discount, adding up to a 60 per cent saving.

According to Barclays, an average household in Chelmsford taking out the Standard Contents home insurance package could pay just £5.66 a month, an annual saving of £68.

The home insurance service also includes a 24-hour dedicated helpline for claims .

Gary Duggan, managing director for consumer lending and insurance at Barclays, said: Whilst we're helping with monthly payments, people must remember that the most costly mistake when it comes to home insurance is being under-insured.

While the average price of home insurance rose by £3 in the past year, according to the AA British Insurance Premium Index, the company still believes that household cover is good value for money.