Home premiums up 4% in Q4 2023 – ABI

The average price of home insurance rose 4% in the fourth quarter of 2023, according to the latest Household Premium Tracker from the Association of British Insurers.

The tracker, which covers 16 million policies sold, calculated the average premium paid for a combined buildings and contents policy was up £14 on the previous quarter to £364 taking the year-on-year hike to 13%.

For average buildings only insurance the quarterly rise was identical at 4% – to £284 – but the annual uplift was greater at 15%.

While the conditions are improving we do think underwriting results in both markets could remain above 100% in 2024.Graham Coutts, senior director at Fitch

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