Average home insurance prices rise by 2.1%

Jessica Nangle

August 23, 2019

house price growth august

Average bills for home insurance are up 2.1% according to data from Consumer Intelligence.

The data shows that the average home insurance premium is at £136, however for over-50s premiums increased by 2.7% averaging £143 per premium.

Those living in the capital pay the most premium for their home insurance, paying 60% more than the North East.

Average premiums have fallen by 1% since 2014.

John Blevins, pricing expert at Consumer Intelligence, said: “Home insurance is a very competitive marketplace, helping to keep overall pricing down.

“London unsurprisingly maintains its number one spot with some of the most expensive properties in the UK and the biggest urban area – with cities generally having a much higher crime rate.

“Regional pricing is based on localised claims experience – looking at general perils such as fire, accidental damage but also specific areas such as crime rates, weather events and subsidence.

“With subsidence claims levels reaching a peak this year, areas where the weather tends to be dryer – such as the South East – have seen higher rates of subsidence.”

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