Confused.com research showed 73% have home insurance but a surprising 34% have never switched provider.
Some 70% said they had been with the same provider for two years or more, potentially missing out on an average saving of £95.26 per year just by switching home insurance providers.
Just shy of a third of those surveyed said they can't be bothered while 29% say their current deal is so good there is no point switching.
Meanwhile 22% of homeowners are under the illusion that switching home insurance is too complicated.
Confused.com said with 66% of people saying they would be willing to switch home insurance if they could save money, it's not affordability that should be questioned but inertia and people's attitudes towards switching.
Gareth Kloet, head of home insurance at Confused.com, said: "We are a money saving nation, however most of us still aren't making the effort when it comes to getting insurance for our homes.
"Shopping around can not only ensure the best value for money but can also prompt homeowners to ensure they have the right level of cover.
“It's worth doing this on an annual basis or after a big purchase to make sure you've got the right cover at the right price - loyalty doesn't pay and you may be able to find better cover at a lower price."
