Product Guides
Personal Finance News
What our customers say..."You are doing a good job Thanking you"
Home insurance premiums 'remaining stable'
Home insurance premiums are likely to remain fairly stable this year, says Graeme Trudgill, head of corporate affairs at the British Insurance Brokers Association (BIBA).
He noted that over the last ten years, insurance premiums have changed very little and in the last year they have moved "a bit".
"There's probably a change, but the average premiums for home building and home contents insurance have been pretty stable in such a competitive market," he added.
Mr Trudgill explained that on average, building premiums have been around £200 over the past decade, while contents has been around £150 a year. This has changed only slightly because "so many insurers [are] trying to get the business".
However, the same cannot be said for car insurance premiums, which have risen to record levels.
Indeed, after the European Court of Justice ruled that charging premiums depending on gender goes against gender equality laws, female drivers could see their premiums increase by around 25 per cent in line with men's premiums.
Copyright
He noted that over the last ten years, insurance premiums have changed very little and in the last year they have moved "a bit".
"There's probably a change, but the average premiums for home building and home contents insurance have been pretty stable in such a competitive market," he added.
Mr Trudgill explained that on average, building premiums have been around £200 over the past decade, while contents has been around £150 a year. This has changed only slightly because "so many insurers [are] trying to get the business".
However, the same cannot be said for car insurance premiums, which have risen to record levels.
Indeed, after the European Court of Justice ruled that charging premiums depending on gender goes against gender equality laws, female drivers could see their premiums increase by around 25 per cent in line with men's premiums.
Copyright
Published: 28/04/2011
The information in this article was correct at the time of publication and contains time sensitive data and links, it may not be accurate at the time of reading.