Home insurance premiums continue to dip

Home insurance premiums have softened 0.9% in the six months since April, with a typical building and contents policy now costing £150, according to consultancy Consumer Intelligence.

However, in the year to October, the average UK home insurance premium was up by 0.5%. Consumer Intelligence said the dip in the last six months was due to reduced claims because of the lockdown.

John Blevins, pricing expert at Consumer Intelligence, said: “Break-ins are generally less frequent when people are at home more. The most recent Office for National Statistics figures show that domestic burglaries fell by 72% in the first national lockdown.

“With more people than ever staying at home, claims have reduced. This is reflected in reduced premiums.”

The average figure masked a broad range of regional results. In the year to October, average UK home insurance premiums in London rose by 4.6% to £198.

At the other end of the scale, average premiums fell by 2.6% in the North East to £136.

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