AA director admits surprise as household premiums fall
The latest benchmark AA British insurance premium index of home insurance premiums recorded quarterly rise in the average quoted premium for an annual buildings insurance policy, which now stands at £213.32, about £3 or 1.8% higher than the previous quarter.
Since the flooding of July last year, the average premium quoted for buildings cover has risen by only about £13, or 6.7%, considerably less than some commentators predicted.
However, average quoted premiums for both contents and combined (buildings and contents) insurance fell. Contents premiums dropped by nearly £5 or 4.2% over the past quarter while £6 (1.9%) was wiped from the average quoted premium for combined buildings and contents policies.
Simon Douglas, director of AA Insurance, said:
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