Quoted home insurance prices jump by 10.5% annually but have started to fall

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. Most of the inflation in quoted premiums happened in the first four months of last year with rest of the year seeing relative stability and decreases Matthew McMaster, Consumer Intelligence Quoted premiums for over-50s households rose faster – by 13.6% – across 2024 – than the 8.0% increase recorded for the under-50s. Matthew McMaster, senior insight analyst at Consumer Intelligence, said: “Most of the inflation in quoted premiums happened in the first four months of last year with rest of the year seeing relative stability and decreases.” Properties of all ages experienced increases in quoted premiums across 2024, researchers said, ranging from 13.3% for homes built between 1910 and 1925 to 8.9% for homes built between 1940 and 1955. Go to website The Consumer Intelligence home insurance price index takes averages of the five cheapest premiums on price comparison websites and takes common risk factors into account. Here are the average increases in quoted premiums from December 2023 to December 2024 by nation and region, according to Consumer Intelligence: Scotland, 14.9% South East, 14.4% London, 14.0% South West, 11.5% Eastern England, 11.1% Wales, 10.0% East Midlands, 9.8% Yorkshire and the Humber, 9.0% North West, 8.1% North East, 5.8% West Midlands, 4.0%