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Home insurance 'cheaper than coffee'

By Wesleyan

Homeowners forked out less for insurance during the first quarter of the year, continuing a recent downward trend.

The Association of British Insurers (ABI) reveals an average combined buildings and contents policy now costs 79 pence a day - less than the price of a takeaway coffee in cafes and restaurants on the high street.

Its latest Quarterly Average Household Premium Tracker shows the typical annual premium paid for a combined buildings and contents policy was £287 - or £5.52 a week - down one per cent on the previous quarter, and by two per cent year-on-year.

Buildings insurance alone cost £225 - or £4.33 a week - down three per cent on the previous quarter and three per cent year-on-year, while contents-only insurance was £118 - or £2.27 a week - down five per cent and eight per cent respectively.

Copyright Press Association 2015

'WESLEYAN’ is a trading name of the Wesleyan Group of companies.

Wesleyan Assurance Society and Wesleyan Bank Ltd are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Wesleyan Financial Services Ltd, Wesleyan Unit Trust Managers Ltd, Practice Plan Ltd and DPAS Ltd are authorised and regulated by the Financial Conduct Authority.  Advice about investments, insurance and mortgages is provided by Wesleyan Financial Services Ltd.

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