There has been only a slight movement in home insurance costs over the past ten years, one expert has revealed.
Many of the increases have only been seen in the last 12 months, explained Graeme Trudgill, head of corporate affairs at the British Insurance Brokers Association.
He continued: "An average building premium has been about £200 or so for over ten years and the contents insurance [has been] about £150 for about ten years."
Mr Trudgill highlighted that the home insurance industry is highly competitive, which is why there has been little movement in terms of pricing for so long.
Sainsbury's home insurance recently warned that many people will have put their properties at risk over the Easter and bank holiday weekend by going away without having cover in place.
It found that 58 per cent of people on holiday during the last weekend of April do not have any home insurance. |
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