Quoted residence insurance coverage costs surge a file 25.7% in a yr


The common quoted worth of residence insurance coverage rose by 25.7% within the 12 months to July 2023 – the very best annual enhance on file, the most recent Client Intelligence House Insurance coverage Value Index ¹  reveals. 

Common quoted premiums for buildings and contents insurance policies stood at £212 final month. However this determine might be heading greater nonetheless, Client Intelligence believes, with quoted costs rising 9.9% within the three months to July – the very best quarterly enhance because it began monitoring in 2014. 

Londoners proceed to face the very best quoted premiums at £316 for constructing and contents insurance policies, with the North East the most affordable area with common quoted costs of £184. 

“That is the primary time that 12-month inflation has damaged into double digits and far of the inflation has occurred this yr with quotes premiums up 23.3% yr up to now,” says Georgia Day, Senior Perception Analyst at Client Intelligence. 

“Individuals who have made claims are more likely to really feel the pinch much more as our knowledge reveals the very best will increase for patrons who’ve made an Escape of Water declare which is without doubt one of the commonest claims within the residence insurance coverage market in keeping with Go.Examine,” Day provides. 

Lengthy-term view 

General, quoted premiums have now risen by 31.1% since Client Intelligence first began gathering knowledge in February 2014. 

“Many shoppers shall be feeling the pinch of their family budgets in opposition to a backdrop of the rising value of residing,” says Day.  

Into the areas 

Londoners face quoted costs 49% greater than the UK common to insure their property and contents. The South East is the one different area to see quoted costs above the UK common at £227.  

Householders in Scotland have seen the most important annual will increase to quoted premiums at 12.1%, adopted by Welsh prospects with rises of 11.5%. Londoners noticed the bottom rise in quoted costs at 6.4%. 

All areas have seen annual will increase in premiums of greater than 20% starting from the West Midlands at 22.2% to the South East at 28.4%. Over the previous three months quoted premium rises vary from 8.7% within the East Midlands to 11.5% within the South East.  

Age variations  

Older house owners see decrease quotes for his or her residence insurance coverage with the typical quoted premiums for over-50s at £199compared with £222 for the under-50s. Quoted costs rose barely quicker for the beneath 50s previously 12 months at 26.3% in contrast with 25.0% for the over-50s. 

Property age 

Older properties proceed to draw the very best quoted premiums with Victorian-era houses constructed between 1850 and 1895 seeing common quoted prices of £279 for joint residence and contents insurance policies. Quoted premiums for houses constructed between 1940 and 1955 are the bottom at £194 marginally cheaper than homes constructed between 1985 and 2000 at £197 and people constructed since 2000 at £198. 

Quoted costs rose throughout the board for properties of all ages previously 12 months with the bottom will increase for these constructed between 1940 and 1955 and people constructed between 1955 and 1970 at 24.2%. The biggest annual will increase had been for houses constructed between 1910 and 1925 at 28.3%. 


Value Index 
Final Yr 
(July 22 – July 23) 

Value Index 
Final 3 months 
(Apr 23 – July 23) 

July 23 
Common Premium 
(5 least expensive) 





South East 








Yorkshire & The Humber 




South West 








West Midlands 








East Midlands 




North West 




North East 





Knowledge from the Client Intelligence House Insurance coverage Value Index is utilized by the Workplace for Nationwide Statistics, regulators, and insurance coverage suppliers because the definitive benchmark of how worth is altering for shoppers. 


¹   Index methodology: For every threat, widespread to consecutive months, the variation is calculated from the typical of the 5 least expensive premiums returned on every PCW within the earlier month to the typical of the highest 5 within the present month, no matter which manufacturers offered these quotes. The train is repeated on every PCW for every widespread threat. The general market prime 5 month-to-month variation is calculated by averaging throughout all these threat degree prime 5 variations for widespread dangers run in each months. The month-to-month figures are concatenated as much as produce the trended worth index from a place to begin of 100% within the base month. 


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