U.S. markets open in 5 hours 29 minutes
  • S&P Futures

    4,536.00
    -5.75 (-0.13%)
     
  • Dow Futures

    35,467.00
    -13.00 (-0.04%)
     
  • Nasdaq Futures

    15,415.75
    -63.00 (-0.41%)
     
  • Russell 2000 Futures

    2,296.50
    +2.40 (+0.10%)
     
  • Crude Oil

    82.33
    -0.17 (-0.21%)
     
  • Gold

    1,793.00
    +11.10 (+0.62%)
     
  • Silver

    24.40
    +0.23 (+0.95%)
     
  • EUR/USD

    1.1646
    +0.0015 (+0.13%)
     
  • 10-Yr Bond

    1.6760
    0.0000 (0.00%)
     
  • Vix

    15.28
    -0.21 (-1.36%)
     
  • GBP/USD

    1.3777
    -0.0019 (-0.14%)
     
  • USD/JPY

    113.8990
    -0.0890 (-0.08%)
     
  • BTC-USD

    63,362.81
    -1,742.27 (-2.68%)
     
  • CMC Crypto 200

    1,506.06
    -28.59 (-1.86%)
     
  • FTSE 100

    7,215.05
    +24.75 (+0.34%)
     
  • Nikkei 225

    28,804.85
    +96.27 (+0.34%)
     

Home insurance premiums ‘5.6% cheaper than a year ago’

·1 min read
Home insurance premiums have fallen by 5.6% over the past year, according to Consumer Intelligence (Yui Mok/PA) (PA Wire)
Home insurance premiums have fallen by 5.6% over the past year, according to Consumer Intelligence (Yui Mok/PA) (PA Wire)

Home insurance premiums have fallen by 5.6% over the past year, according to analysis.

Across Britain the average buildings and contents policy price is £144, Consumer Intelligence said.

Mid-century homes recorded the biggest reductions in premiums in the past 12 months, with a typical fall of 7.4% for properties built between 1940 and 1955.

Homes built between 1910 and 1925 were 7% cheaper.

The home market is already a very competitive space

Harriet Devonald, Consumer Intelligence

Older homes continue to have bigger premiums, reflecting the higher cost of claims made by their owners, the report said.

Victorian-era properties typically have premiums of £169 for an annual policy.

Properties built this century are the cheapest to insure at £133 on average.

London (£202) continues to top the list of regions.

The South East (£154) and Yorkshire and the Humber (£150) are the only two other regions where an annual policy is more than the national average of £144.

“The home market is already a very competitive space which keeps premium increases largely at bay,” said Harriet Devonald, product manager at Consumer Intelligence.

The North East (£113) remains the cheapest region, with the East Midlands (£124) and the South West (£130) following.

Here are average premiums in July and the percentage decrease, according to Consumer Intelligence:

– Wales, £135, minus 3.2%

– East Midlands, £124, minus 3.7%

– West Midlands £138, minus 4.6%

– Scotland £139, minus 4.8%

– South West £130, minus 5.1%

– Eastern England, £135, minus 5.8%

– London, £202, minus 6.2%

– North East, £113, minus 6.7%

– North West £141, minus 6.7%

– South East £154, minus 6.8%

– Yorkshire and the Humber £150, minus 7.9%