How Long Will Low Home Insurance Premiums Last?

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It’s good news all round that home insurance premiums have been dropping consistently over past years. Lower bills for home buildings and contents insurance put less pressure on the family finances at a time when other bills, such as electricity and gas, have been increasing rapidly.

In fact, insurance costs have fallen to such an extent that a recent survey from a major insurer found that on average, we are paying just 4p more for contents insurance than we were 20 years ago, and that buildings  insurance fell by 6.5% in 2013 alone. But can it last?NEWS

Whether the weather.

Experts agree that in the future the driving force behind the rise and fall of insurance prices is likely to be the weather. Severe weather such as this winter’s flooding sparks a whole host of claims on policies, and if we see more flooding, storms and high winds in the future, an increase in claims could mean we all pay more as the insurance companies spread the risk.

Internet Revolution

It’s hard to cast your mind back 20 years to the days where the only option for renewing insurance was to pick up the phone and call the company for a quote, or make an appointment with a local broker. These days we can get quotes and compare prices on a laptop, tablet or smartphone and the increased level of competition has driven prices ever lower. There is no sign of the internet revolution slowing down, so this could help keep costs down in the future. That is assuming of course, you compare prices and shop around.

Policy Expert

We have a real passion for making sure people get the cover that’s right for them. We’re driven by a desire to help you find not only the best value insurance, but the right insurance for your individual needs. For more information speak to one of our experts on 0203 014 9300 or email ask@policyexpert.co.uk

The views expressed here are solely those of the author and do not necessarily reflect the views of Policy Expert.