The latest AA Price Index issued for the 4th Quarter of 2017 has shown combined buildings and contents premiums rose by 1.8% during that period and by 5% over the year. This comes as a steeper rise than expected for industry analysts and higher than the previous quarter.
Buildings only policies increased by 2.4% during the last quarter and 5.7% during the entire year. However, contents only premiums fell marginally by 1.1% in the same period.
The AA Price Index measures the five cheapest quotes for each ‘customer’ to provide an average or Shoparound premium using a mix of brokers, direct insurers and comparison websites.
It is felt that home insurance premiums may continue to rise as we encounter bad weather in the early months of 2018.
To save on your home insurance premium we recommend you contact us for a quotation and see how we reduce your annual insurance costs.