Data from comparison site Go.Compare shows that home insurance prices have risen by 17% since late 2021, when average buildings and contents insurance premiums were £138. It said the average was now £162.

Ceri McMillan, home insurance spokesperson at Go.Compare, said: “In 2023 we have continued to see rising costs across the board, from food to fuel and everyday bills, too.

“The cost-of-living crisis is continuing to have its impact, and insurers are also seeing cost increases in materials and labour. Unfortunately, all these factors combined mean increased costs in a range of areas – including our home insurance.”

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