Quoted home insurance prices jump by 10.5% annually but have started to fall The average quoted price of home insurance jumped by 10.5% last year – but prices have been edging down in recent months, according to an index.
Matthew McMaster, senior insight analyst at Consumer Intelligence, said: “Most of the inflation in quoted premiums happened in the first four months of last year with rest of the year seeing relative stability and decreases.”.
Consumer Intelligence recorded a 2.2% fall in the price of quotes for buildings and contents insurance between September and December 2024, with its analysis indicating that the bulk of last year’s increase happened in the early months of 2024.
Across 2024, quoted premiums rose generally across Britain, ranging from a 14.9% increase in Scotland to a 4.0% rise in the West Midlands.
Properties of all ages experienced increases in quoted premiums across 2024, researchers said, ranging from 13.3% for homes built between 1910 and 1925 to 8.9% for homes built between 1940 and 1955.
