Home insurance premiums fall again as Defaqto warns of claims pressures
Home insurance prices fell by 2.4% in the third quarter, with drops every month, according to the latest research by Defaqto.
The monthly cuts – of 1% in July, 0.9% in August and 0.4% in September – came after the first signs of a potentially hardening market in the prior quarter.
The average of the five most competitive quoted premiums for combined buildings and contents insurance is now 16.9% below its level two years ago.
With the latest numbers extinguishing the flickering prospect of a hardening market, the specialists flagged insurers need to balance competition against pressure on claims costs.
Data from the
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