According to a Consumer intelligence firm, Home Insurances rates have fallen by 6.6% in 2015 compared to the same point in the previous year. The average price was recorded in June at £115. This is a reduction of £13.
For those aged over 50, the premiums have reduced by 6.8% (£106) and customers under this age have seen a reduction of 6.3% (£125)
The number of claims for weather damage and burglaries are down.
Researchers expect premiums will continue to fall for the next few months. With increases in ‘Insurance Premium Tax’ due in November and a final decision on Flood-re being imminent prices are expected to increase in 2016.