Home insurance prices fall to record lows, says ABI

money-houses

The average price paid in the UK for buildings insurance in the first quarter of the year dropped by 7% compared to Q1 2021 with contents insurance down 11%, according to the latest Household Insurance Premium Tracker from the Association of British Insurers.

Both figures were record lows with buildings insurance coming in at £225 and contents insurance falling to £114. The ABI started collecting this data back in 2012.

For combined buildings and content insurance, the average premium was £307, down 2% over the last year, to its lowest level in four years, the research detailed.

With the Consumer Price Index measure of inflation currently at its highest for thirty years, at 7% in March according to the Office for National Statistics, the ABI noted

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