About 4.5 million Aussies are not claiming on their insurance over fears it could make their premiums rise, according to new research.

A recent survey from comparison site Finder showed how cost of living pressures continue to weigh on many Australians as they attempt to keep a lid on their household budget.

At least 21 per cent of respondents to Finder's survey said they have avoided making an insurance claim over concerns their premiums would be hiked if they do so.

Almost one in 10 of those surveyed said they had not put in a claim on their home insurance, while another nine per cent said they held off making a car insurance claim.

Four per cent said they had avoided making a claim on their pet insurance and another seven per cent refrained from making a claim on health insurance.

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