
Winners revealed in the Finder Insurance Innovation Awards 2021
These inaugural awards recognise the insurance brands displaying the best innovations in their field.
Read more…Despite home insurance providing vital protection for your home and possessions, many homeowners in the UK are choosing to not insure their homes. Our research shows that 19 million Brits have contents insurance, some 1.1 million fewer than 5 years ago. We explored why Brits are not buying contents insurance and what they are putting at risk without it.
Northern Ireland is the best region for having their contents covered, with 82% of homes having cover. Whilst only 55% of London homes have contents cover. Explore the map below to see which regions have the most homes without contents cover.
Region | Percentage of homes without home contents cover |
---|---|
South West | 22% |
South East | 19% |
East of England | 22% |
West Midlands | 28% |
East Midlands | 21% |
Yorkshire and The Humber | 22% |
North West | 24% |
North East | 32% |
Wales | 22% |
Scotland | 26% |
Northern Ireland | 18% |
London | 45% |
Home insurance comes in three main forms; contents insurance, buildings insurance or both. The price you pay will depend on a few factors, mainly where you live, how big your home is and what you want to be covered on your contents insurance.
We explored the data to find out how the median cost of home insurance premiums purchased online has trended over time from 2013 to 2019. Q3 figures from 2019 show that home insurance premiums are at their median highest rate since Q4 in 2013. In general, the trend of home insurance costs was on the decline from 2013 to until Q4 2018 where prices have begun to rise again.
Time period | Median price paid for Home Insurance policies online |
---|---|
Q1 '13 | £154 |
Q2 '13 | £153 |
Q3 '13 | £150 |
Q4 '13 | £146 |
Q1 '14 | £141 |
Q2 '14 | £138 |
Q3 '14 | £136 |
Q4 '14 | £134 |
Q1 '15 | £132 |
Q2 '15 | £128 |
Q3 '15 | £126 |
Q4 '15 | £125 |
Q1 '16 | £117 |
Q2 '16 | £117 |
Q3 '16 | £116 |
Q4 '16 | £115 |
Q1 '17 | £113 |
Q2 '17 | £115 |
Q3 '17 | £124 |
Q4 '17 | £125 |
Q1 '18 | £123 |
Q2 '18 | £125 |
Q3 '18 | £128 |
Q4 '18 | £141 |
Q1 '19 | £140 |
Q2 '19 | £141 |
Q3 '19 | £145 |
Whether your home has been broken into or adverse weather conditions have caused flooding – there may be a time where you need to claim on your insurance. The level of cover you pay for will determine what you are able to claim for, but what are the most common claims for?
Domestic claims incurred by peril (2018 Q3) | Percentage of claims |
---|---|
Fire & explosion | 17% |
Theft | 12% |
Weather | 6% |
Escape of water | 30% |
Domestic subsidence | 12% |
Accidental damage | 11% |
Other | 12% |
Contents insurance is a way of protecting your personal belongings and items within your home. When taking out your policy it’s important to accurately estimate the value of your items in case you ever need to make a claim. The average contents policy costs just £127 a year, or £2.40 a week.
The latest report shows that over 19 million homes in the UK have contents insurance in 2018. This figure is, however, the lowest in the last 5 years, 1.1 million fewer than in 2013. Explore the graphic below to see how the number of households with contents insurance has trended over time.
Year | Number of households with contents insurance (millions) |
---|---|
2013 | 20.4 |
2014 | 20.4 |
2015 | 19.7 |
2016 | 19.6 |
2017 | 19.6 |
2018 | 19.3 |
As a rough guide, the below list gives you an idea of contents valuation for the size of your home.
Property type | Price |
---|---|
Bungalow | £42,084 |
Four bed house | £49,316 |
One bed flat | £20,110 |
Three bed house | £38,160 |
Two bed flat | £26,966 |
Two bed house | £28,506 |
These inaugural awards recognise the insurance brands displaying the best innovations in their field.
Read more…We’ve compiled a list of some of the best home emergency cover providers in the UK and the cover options available.
Read more…Find out the recent proposals from the FCA around overhauling insurance pricing and what this will mean for insurance firms and the consumer.
Read more…Download Finder’s report on how lockdown has impacted home insurance and read how the industry is handling new challenges and opportunities.
Read more…Urban Jungle offers three kinds of policy: contents insurance, contents and buildings insurance and tenants’ liability, all created with renters in mind.
Read more…See the full results of our independent customer satisfaction survey of 750 home insurance customers – who’s got you feeling right at home?
Read more…We’ve compiled a list of some of the best home emergency cover providers in the UK and the cover options available.
See the full results of our independent customer satisfaction survey of 750 home insurance customers – who’s got you feeling right at home?
Compare home insurance policies and read our step-by-step guide on how to make a home insurance claim.
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