During Q1, 2017, the Tracker shows:
- The average annual premium paid for building insurance was £263 or £5.06 a week. This was down 2% on the previous quarter, although up by 3% over the year since quarter 1, 2016.
- For contents insurance, the average annual premium paid was £135, or £2.60 a week. This was 3% less than the previous quarter and down 1% over the same quarter a year ago.
- The average annual premium paid for a combined buildings and contents policy was £297, or £5.71 a week. This was down 2% on the previous quarter, with a 4% fall over the year.
Mark Shepherd, the ABI’s Assistant Director, Head of Property, Commercial & Specialist Lines, said:
"As well as a must have, home insurance remains outstanding value for money. This winter may have not seen any major bad weather, but the unexpected is often just around the corner so it has never been more important to ensure that the roof over your head and your possessions are covered should the unexpected, unwelcome event happen.”