UK Home Owners Benefit from Lower Insurance Premiums Due to Decreased Claims Peter, January 15, 2024March 7, 2024 The average home insurance policy has decreased by 0.3% in the past three months due to fewer claims during the coronavirus crisis, as people stayed home more. However, premiums have increased by 3% over a 12-month period. A significant decrease in recorded crime since the start of the lockdown has led to a drop in home insurance premiums. The average buildings and contents policy has fallen by 0.3% in the last three months. On the other hand, premiums have actually increased by 3% over a 12-month period. The typical buildings and contents policy now costs £150. Premiums have only risen by 1.9% in the six-and-a-half years since data collection began in February 2014. Homeowners in London (£195) and the South East (£160) pay the highest premiums, while the East Midlands (£136) and the South West (£136) have the lowest. Younger age groups have seen no change in premiums, while those over 50 have seen a 0.9% decrease. Interwar properties built between 1925-1940 saw the highest premium increase at 4.4% in the last 12 months, followed closely by houses built in the current millennium at 4%.  For more information on average premiums and price changes across Great Britain, please refer to the tables provided in the text. Download the Home Insurance Price Index for insights on market trends, major insurance brands, and data analysis to help optimize pricing strategies. Home insurance