Citizens Advice South Hams is warning people to shop around for home insurance after January saw the biggest rise in quotes on record.

The average quote for home insurance increased by 40.6% in the 12 months to January, according to Consumer Intelligence, which has been recording quotes since 2014.

One policyholder, who contacted Citizens Advice South Hams, said:

“I received a letter from my insurer warning of an expected big increase in premiums. In 2022, my premium was £180, which jumped to £280 last year. They are now asking for £445. This is for identical cover with no changes. I know I’m not alone – one friend had a 24% rise.”

He added: “I have since found some 20+ quotations online that are massively cheaper for identical cover.  I have now taken one at £240 rather than the £445 with my old company.

“I spoke to my old insurer and their staff refused to give any better price. Their explanation included a series of rising costs that are partly valid but strange how many other companies have not increased their quotations by anywhere near as much, so it would seem that market costs are not the main cause of the huge increases.”

Citizens Advice South Hams Chief Executive, Janie Moor, said:

“We would urge people to shop around for their home insurance when it comes up for renewal. It is often the case that you can find cheaper premiums by looking around and switching to a new insurer.

“It’s still important to make sure any insurance you buy fully meets your needs, but your current insurer shouldn’t take your business for granted.”



A truly valuable service. My advisor was extremely helpful and reassuring. Thank you.

Deborah – December 2023

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