Home Insurance Cost Likely To Decline By Up To 10%

News: Home insurers are likely to offer rate reductions of up to 10% to consumers in 2014 owing to rising price competition, regardless of the increase in flood claims. Industry experts have rejected the concerns that growing claims activity over the Christmas and New Year period could considerably influence insurers' 2013 figures. 'These storms won't have an impact (on the premiums) of those who haven't been impacted by flooding. Even those who have been impacted by flash flooding, if they are not living on flood plains, should be able to secure rate reductions because the market is so competitive,' PricewaterhouseCoopers partner Mohammad Khan said (POST).

This article is tagged to:
Sector: Insurance
Geography: United Kingdom

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