UK Home Insurance Premiums Rise by 10% in 2011

According to the latest report published by AA Insurance, home insurance prices have risen by 10% in 2011.

The British Insurance Premium Index by AA revealed that buildings insurance premiums rose by 3.1%, from 143 pounds in 2010 to 156 pounds. Meanwhile, contents premiums rose even more, y 4.4% to 80 pounds in the past 3 months of 2011 alone.

In the opinion of Simon Douglas, director of AA Insurance, such a significant increase in the price is due to a rise in the number of claims and in the crime level in the UK.

"Storm damage, flooding and burst pipes [were] top of insurers' lists of worries, following two harsh winters and increasingly frequent severe weather... In addition, economic pressures result in more theft claims.

According to the British Crime Survey, domestic burglary in England and Wales grew by ten per cent over the 12 months to the end of June 2011," highlighted Mr. Douglas.

You can view the full British Insurance Premium Index on the official website of AA Insurance.