Barclays insurance drops costs

Barclays insurance costs are set to drop according to an announcement made today.

The bank hopes the move will win them business from rival providers.

According to a personal finance website, Barclays will reduce premiums on its car, home and travel insurance policies to beat other reductions currently entering the market. The move is part of an attempt by the bank to become a top five provider with over 1.8 million customers.

It is expected to save new and existing customers a combined £1.8 billion.