Quoted home insurance premiums fall amid increasing competition, study finds

Independent

a day ago

Average quoted home insurance prices are falling as competition across the market rises, according to an index.
Quoted premiums have typically fallen by 7.9% over the past year and by 3.9% over the past quarter, insurance market insights provider Consumer Intelligence said.
Premiums were most commonly quoted between £150 and £199, with 29% of quotes falling within that range, according to Consumer Intelligence's data.
In June, 62.5% of consumers could potentially source quotes for less than £200, compared with 56% a year ago, its study indicated.
Laura Vas, senior insight analyst at Consumer Intelligence said: 'There is a greater array of choice for consumers – 75% of the best prices in the market came from nine brands in June 2025, up from six in the previous year.'
Quoted premiums for under-50s households have typically fallen by 8.4% in the past 12 months, slightly ahead of a 7.3% drop for the over-50s, the report found.
Looking at property types, quoted premiums for properties of all ages have typically fallen over the past year, with the biggest decreases at 9.5% for homes built between 1925 and 1940 and for those built between 1985 and 2000, it added.
The research involved calculating changes in the averages of the five cheapest premiums on price comparison websites.
Here are the average annual falls in quoted premiums across nations and regions in June, according to Consumer Intelligence:
South West, minus 2.0%
Scotland, minus 4.7%
South East, minus 6.4%
North West, minus 7.5%
London, minus 8.4%
Eastern England, minus 8.6%
Yorkshire and the Humber, minus 9.0%
East Midlands, minus 9.5%
Wales, minus 10.4%
West Midlands, minus 10.4%
North East, minus 10.5%