Barclays is promising to at least match consumers' home insurance policies in addition to offering a £25 bonus for switching cover.
The price challenge is available through the Barclays and Woolwich Branch Network, and open to anyone.
Barclays claims that its existing Home Insurance customers are already making savings in six out of ten cases.
Customers interested in the offer should visit a Barclays branch for a quote and take along details of their existing policy.
If a customer's existing policy is actually cheaper the bank will match the price and give them a Capital Bonds voucher for £25. The voucher can be spent at a number of high street stores including Boots, House of Fraser, Debenhams, Woolworths and Homebase.
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