ABI publishes latest Quarterly Household Premium Tracker
The ABI has today published its latest Quarterly Average Household Premium Tracker.
The Tracker, the only market indicator of what homeowners are actually paying for their home insurance, shows that, in the fourth quarter of 2016, the price paid for the average combined buildings and contents policy fell by 3% on the previous quarter to £298.
The average price paid for buildings insurance in the quarter, at £266, fell 2% on the previous quarter, while the average contents policy, at £139, was down by 1%.
In 2016 the average combined home insurance policy fell by 2% to £306 on the previous year. However, the average prices paid for separate buildings and contents policies rose by 5% and 3% respectively on 2015.
Mark Shepherd, ABI’s Assistant Director, Head of Property, said:
“Home insurance continues to provide vital financial protection at competitive prices to help millions of households protect their homes. While home insurance is competitively priced it is important not to buy on price alone, but to make sure that your home insurance meets your needs.”