FCA dual pricing rules drive biggest monthly premium jump in eight years, says Consumer Intelligence
Average premiums for home insurance rose 9.1% in January while motor was up 4.9%, according to the specialists.
The Financial Conduct Authority’s ban on dual pricing, which came into force this January, led to the biggest one-month jump in home and motor insurance premiums in over eight years, according to analysis from Consumer Intelligence.
The current costs have now increased to £154 for home insurance and £705 for motor insurance.
The researchers’ previous market update, published towards the end of 2021, had the cost of insurance falling an average of 8.2% year-on-year for homeowners and 7.6% for
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