Home insurance prices jump 40% in a year
The average quoted price of home insurance increased by 40.6% in the 12 months to January – the highest annual increase since Consumer Intelligence began tracking prices in 2014.
The latest Consumer Intelligence Home Insurance Price Index showed the rise in quoted premiums beat the previous record-high increases set in the two previous quarters of 36.1% and 25.7% respectively.
The data found that 29% of quotes fell between £150 and £199.
The latest Household Premium Tracker from the Association of British Insurers reported last month that the average price of home insurance rose 4% in the fourth quarter of 2023 compared with the previous quarter. The tracker calculated
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