Home insurance costs have risen, with the average combined policy increasing by 8.5% over the past year, according to Go.Compare Home Insurance.
Data showed that with average combined policy cost rose from £213 to £231 between October and December 2024.
The new price index also noted a 1.2% increase between Q3 and Q4 of 2024.
While contents-only insurance remained at £66 on average, buildings-only insurance rose from £204 to £208.
Premium costs varied significantly across the UK, with Northern Ireland residents paying the highest average of £427, followed by Greater London at £336.
The North East had the lowest premiums at £190.
Insurance costs also rose with the number of bedrooms, with one-bedroom homes averaging £169 compared to £419 for homes with five or more bedrooms.
Nathan Blackler, spokesman for Go.Compare Home Insurance, said: “The fact that home insurance premiums have risen again won’t be welcome news to households.
“Several factors are contributing to this rise – severe weather has led to more claims, while increasing property values, rising rebuilding costs due to inflation, material shortages, and labour expenses have all also played a role.”
Blackler suggested options for managing these costs, advising policyholders to consider a combined policy for buildings and contents cover to save money.
He also recommended paying annually to avoid interest on instalments, checking add-ons, enhancing home security, staying on top of home maintenance, and shopping around rather than automatically renewing policies.
