Home insurance rates rise by 6% over the last three months

Home Insurance Price Trends

The average cost of home insurance has increased by 6% in the past three months according to recent data from Consumer Intelligence. However, prices have remained relatively stable over a 12-month period.

Regional Disparities

Londoners pay the highest premiums at £206, while the North East has the lowest average premiums at £117. Regions like the South East and Wales also pay above the UK average.

Insights from Consumer Intelligence

Insight Analyst Georgia Day suggests that insurers may need to adjust prices in line with inflation as we move into 2023. The competitive market has kept prices in check, but there is a noticeable upward trend to meet inflation demands.

Age and Property Type

Older homeowners pay slightly less for insurance, with premiums varying based on the age of the property. Victorian-era homes have the highest premiums, while homes built after 2000 are cheaper to insure.

Price Index Comparison

The Price Index shows fluctuations in premiums over the past year and the last three months across different regions. London, for example, has seen a 7.4% increase in the last three months.

For more detailed information and insights, you can download the Home Insurance Price Index from Consumer Intelligence.