Home insurance rates continue to increase

By Marianne Straker, Thu 19 Jan 2012 - Published in Home Insurance

Rates on home insurance have continued to rise, according to new research by the AA British Insurance Premium Index.

The first part of 2012 has seen adverse weather conditions, with storms battering Scotland, Northern Ireland and northern England. AXA insurance suggested that the coming year would see an increase in home insurance claims.

Bosses at the company highlighted major events such as the Olympics, the Queen's Jubilee, Euro 2012 and unsettled weather could see complaints rise. Now, the AA has shown that content and combined policies rose by 11 per cent over 2011.

Building premiums rose by 3.1 per cent, culminating in an annual increase of 9.5 per cent, whereas content rates jumped by 4.4 per cent adding to a yearly rise of 11.2 per cent.

Simon Douglas, director of AA Insurance, said: "Storm damage, flooding and burst pipes are top of insurers' list of worries, following two harsh winters and increasingly frequent severe weather. In addition, economic pressures result in more theft claims."

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