MoneySupermarket Monitor: Spotlight on Home Insurance

Welcome to the MoneySuperMarket Monitor on Home Insurance. In this quarterly publication we take an in-depth look at the average premium prices and the trends associated with claims, contents and possessions insured across the UK.

The data in this edition is representative of quotes run on from 1 June 2012 to 31 August 2013, and is based on 3,253,590 enquiries run during this period.

Key findings

  • Home insurance premiums have dropped across the board year-on-year. However, comparing this quarter's report with the previous one shows overall home insurance premiums increased by 0.7%. The biggest increase was to the cost of contents only cover which has gone up 10.2% over the three months. Home insurance premiums peaked in June before falling again during July and August;
  • Just two postal areas in the UK recorded an annual rise in home insurance premiums compared with the 119 experiencing a drop;
  • Harrow is the most expensive place for home insurance with average premiums coming in at £200.32;
  • Man-made accidents continue to dominate claims across buildings and contents insurance, accounting for 73.8% and 61.4% respectively;
  • The value of items specified on insurance policies is currently to £3,295;

MoneySuperMarket is well placed to give an overview of the whole market, comparing 103 insurance brands in the UK. Shopping around for insurance cover is extremely beneficial in helping consumers make the most of their money. Using to find a home insurance policy can help people save on average £113.*

*Based on Online independent research by Consumer Intelligence during 01 August 2013 to 31 August 2013

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Issue 2

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