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10-15% jump in home and car insurance premiums

Consumers are expected to spend significantly more on home and auto insurance this year, with premiums expected to jump between 10 and 15 percent, according to comparison site Independent. Inflation is behind the rise. “Everything is getting more expensive, which directly translates into higher premiums,” said Menno Dykes of The Independent. advertisement.

Auto insurance premiums are up 11%. Last year, policyholders spent an average of €821 on car insurance. This year the premium is on average 912 euros.

Autoverzekering.nl confirms a significant increase. Our comparison site provides average monthly premiums for liability insurance (WA), WA Limited Hull, and All Risks Insurance. The average increase in WA is almost 10%. The limited comprehensive premium has increased from an annual average of €663 to €728.

Home insurance premiums are expected to rise by about 15% this year, according to Independent. Last year the annual premium was 240 euros. This year it is 276 euros. “It’s a very strong increase,” Dykes told the newspaper.

Home content premiums are almost flat. Legal expense insurance will increase by 4% on average.

Consumers increase with policy updates. “Not everyone has paid the newly increased premiums yet, so we can expect an increase this year,” he said.

https://nltimes.nl/2023/03/10/home-auto-insurance-premiums-jump-10-15-percent 10-15% jump in home and car insurance premiums

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