Those home owners, car drivers and business owners who are insured by NFU Mutual are being offers loyalty premium discounts of at least 13.5%.

All of NFU Mutual’s general insurance customers, who total almost a million people, will benefit from the ‘Mutual Bonus’ which will reduce their premiums by between 13.5% and 18.5% of their renewal premium.

This means policyholders who are renewing for the fifth year paying a £500 insurance premium renewal will get a bonus of £92.50.

The new Mutual Bonus rates will apply on renewals from July 2017 until June 2018. The current Mutual Bonus rates will apply until the end of June 2017.

Lindsay Sinclair, NFU Mutual group chief executive, said: “Our Mutual Bonus is a very important way of showing our appreciation of our customers’ loyalty. As a mutual we are owned by our members – and this means we can reward our loyal customers.”