Home insurance cheaper than a decade ago

Posted : 12-07-2005

Home buildings insurance is currently cheaper than 11 years ago, according to the latest AA Index.

The quarterly index found that average home buildings insurance premiums fell in the second quarter of 2005 for the sixth successive quarter, and by 1.89 per cent, to £203 – the cheapest rate for nearly a decade.

Home contents cover also fell for the fourth quarter in succession to £148.

These figures reflect the continued competitiveness of the home insurance market and that savings are available for consumers who are prepared to compare a number of different home insurance quotes.

Commenting on the figures, Kevin Sinclair of AA Insurance, said: "While falling crime rates and few weather-related claims over recent years have contributed to falling premiums, many providers have also introduced discounts for buying online."

Britons are advised to regularly review and update their home insurance policies, with homeowners regularly under-estimating the value of their belongings and failing to add new valuable possessions to their cover.


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