An index has found that average quoted home insurance prices are decreasing.
Competition across the insurance market is rising, resulting in insurers quoting lower prices. Over the last year, quoted premiums have decreased by 7.9%, with most premiums quoted between £150 and £199. In June, 62.5% of consumers had the potential of sourcing quotes for less than £200, up from 56% the year before.
Premiums have fallen for properties of all ages, but the biggest decrease was seen in homes built between 1925 and 1940, and between 1985 and 2000. Meanwhile, the North East is the region with the biggest drop (-10.5%) in quoted premiums while the South West has seen the smallest fall (-2.0%).
As with all insurance policies, conditions and exclusions will apply.
Sources:
https://uk.finance.yahoo.com/news/quoted-home-insurance-premiums-fall-230100843.html?guccounter=1
