Home insurance premiums tick up by less than inflation at 6%


The average price paid for a combined buildings and contents home insurance policy in the first quarter of 2023 was £315, according to the Association of British Insurers.

Its latest Home Insurance Premium Tracker detailed a 6% increase on Q1 2022 and a 3% rise on the final quarter of 2022.

The average buildings-only policy was £236, up 1% on the previous quarter and 5% year-on year, the ABI listed.

For contents-only cover, the average price paid fell slightly – by less than 1% – to £117, compared with the previous quarter, reducing the annual increase to 1%.


The insurer trade body noted the muted price hikes were less than the rate of inflation and

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options


Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

This address will be used to create your account

NSM to buy AllClear owner

NSM Insurance has signed up to buy InsurEvo Group, including AllClear Insurance, InsureandGo and JustCover, from Synova.

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: