12 August 2015

Householders are paying less for the most competitive home insurance policies than they were this time last year, according to a new study.

The research shows that the average amount people were charged in June for the five cheapest premiums was 6.6% lower than it was 12 months earlier, and 2.3% lower than in April, according to Consumer Intelligence.

That means they were typically paying a premium of £115, some £13 less than in June 2014, suggesting that householders who opt to change their insurance provider could save money.

The market research firm says more than a third (35%) of the home insurance policyholders surveyed switched provider last year, with half of them indicating that they had done so in order to pay a lower premium.

Consumer Intelligence's chief executive, Ian Hughes, says a significant fall in the number of burglaries and fewer claims for storm and flood damage had resulted in premiums falling.

This article was written by the Press Association, for Legal & General. Please note the views expressed in this article are not necessarily the views of Legal & General and its group of companies.

Copyright Press Association 2015

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