AA says home and contents insurance premiums flat in Q1

Thursday, April 26th 2012
Home and contents insurance premiums 'flat in Q1'
The price of home and contents policies saw little change during the first quarter of 2012, the AA has found.

The cost of annual home and contents insurance policies remained flat in the first quarter of 2012, according to new figures from the AA.

During the three-month period, the premium for a combined policy climbed by 1.5 per cent year on year to £260, with buildings cover increasing by 0.5 per cent to £181 and contents insurance falling to £109, down by 1.7 per cent.

The figures are based on the AA's Shoparound summary, which takes an average of the five cheapest quotes from a range of insurers.

Simon Douglas, director of AA Insurance, said concerns exist about the impact of severe weather on homes, despite premiums seeing little change.

"The weather has remained dry, which has led to widespread hosepipe bans and speculation that there might be an increase in subsidence claims," he explained.

Earlier this year, the AA revealed that more than 18.5 million Britons have delayed home maintenance or repairs in an attempt to save money.

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