Home insurance increases reflect record winter claims
AA research shows home insurance premiums show little signs of reducing.
The latest AA British Insurance Premium Index shows the average Shoparound premium for Buildings cover went up by 14% over the 12 months to the end of March to £147, with the cost of a contents policy rising by 12% to £76. The home contents premium annual premium increase was 11.9%.
However, AA Insurance believes that increases over the rest of 2011 will be smaller.
The index analyses quotes from more than 50 insurance companies, brokers and schemes against a basket of risks that is typical of the UK driving population. The Shoparound premium is an average of the cheapest three quotes for each ‘customer’.
Owners of large homes and those with high sums insured, collections of fine art, antiques and jewellery are not immune from these increases. However, Andrew Phillips Insurance Brokers Ltd can help those clients who require a more bespoke home insurance solution. Please contact us for details.