The cost of home insurance is continuing to tumble - in spite of insurers having borne the cost of a severe winter and rising subsidence claims, according to two surveys yesterday. Figures from land , which act as intermediaries on behalf of a panel of insurance companies, suggest that insurers' profit margins are under increasing pressure.
Premium Search found that since the beginning of the year, savings of more than 10 per cent have been possible for many buyers while the cost of building insurance for some risks in London has fallen by as much as 40 per cent.
Mr Philip da Silva, Premium's sales and marketing director, said: "Insurers can now rate households much more precisely. . . If the other end of your road has a subsidence problem, you will no longer bear the cost of that potential risk in your buildings insurance."
However, the AA survey suggests that motor insurance rates are beginning to creep up. Since April, the average comprehensive policy has risen by 2 per cent and non-comprehensive policies by about 0.5 per cent. Even so, comprehensive rates this month are more than 5 per cent cheaper on average than a year ago.
The cost of a harsh winter and a dry summer last year had encouraged expectations of home insurance premiums rising. The AA survey shows this has not happened and the average buildings policy costs 2.4 per cent less this month than in April. Buildings policies are on average 10.4 per cent cheaper than in July last year and contents policies are 6.5 per cent cheaper.
Premium Search found that since the beginning of the year, savings of more than 10 per cent have been possible for many buyers while the cost of building insurance for some risks in London has fallen by as much as 40 per cent.
Mr Philip da Silva, Premium's sales and marketing director, said: "Insurers can now rate households much more precisely. . . If the other end of your road has a subsidence problem, you will no longer bear the cost of that potential risk in your buildings insurance."
However, the AA survey suggests that motor insurance rates are beginning to creep up. Since April, the average comprehensive policy has risen by 2 per cent and non-comprehensive policies by about 0.5 per cent. Even so, comprehensive rates this month are more than 5 per cent cheaper on average than a year ago.
The cost of a harsh winter and a dry summer last year had encouraged expectations of home insurance premiums rising. The AA survey shows this has not happened and the average buildings policy costs 2.4 per cent less this month than in April. Buildings policies are on average 10.4 per cent cheaper than in July last year and contents policies are 6.5 per cent cheaper.
0 komentar:
Posting Komentar