Daily Insurance Industry News
 
 
Daily Insurance Industry News
Friday 17th of August 2018
April 27, 2011

Home insurance premiums up 6%

by Gill Montia

Story link: Home insurance premiums up 6%

Home insurance premiums have risen 6% on average across the UK since January 2010, according to moneysupermarket.com.

However, residents of Dorking in Surrey have seen an average 46% increase over the 14 month period and homeowners in the city centre of Edinburgh and in Milngavie, Glasgow, have experienced similar increases (45% and 40% respectively).

Overall, Greater London postcodes are the worst affected, representing five of the top twenty hardest-hit areas.

The price comparison site names rising fraudulent claims, the cost of repairs from extreme weather damage and an increase in crime levels as factors behind the increases.

The firm’s head of home insurance, Julie Owens, is not expecting any let up, warning: “If your property is classified as being in a ‘high-risk’ area – whether for crime, flooding or even fraudulent claims – it will be reflected in your insurance premiums.”

Moneysupermarket’s research is based on 3.4 million home insurance quotations.

 

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