Home premiums up for the first time since 2011

Three years of falling premiums in the household sector have come to an end. For the first time since 2011, there has been a small increase in the average quote for shop around premiums for home buildings, contents and combined policies. The AA Index states IPT hike to small rate increases in the last quarter of 2015.

According to the index, the average shop around quote for an annual building policy increase by £2 to £108.59 in the fourth quarter of 2015, but the AA said this was still 1.4% less than a year before.

One factor that played a part in the increase was the weather. The floods in December of 2015 meant that flood claims allowed down the fall in premiums and potentially lead to modest premium increases over the rest of 2016.

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