The average premium paid for home insurance in the UK rose in the fourth quarter of 2023, according to the latest household premium tracker published by the Association of British Insurers (ABI).
The tracker, which covers more than 16 million policies, shows the following numbers:
|
Type of insurance |
Average price paid in Q4 2023 |
|---|---|
|
Buildings insurance |
£284 |
|
Contents insurance |
£131 |
|
Combined buildings and contents |
£364 |
The ABI said the average cost of home insurance saw an increase both on a quarterly and a yearly basis.
Meanwhile it was noted that the industry paid out £352 million in support of home insurance customers whose houses were damaged by Storms Babet, Ciaran, and Debi. The amount spans 36,000 claims.
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