Why has my home insurance renewal price gone up?

Your home insurance renewal price explained

Every UK insurer is seeing a big increase in the number and cost of customers’ claims, that are being affected by inflation and world events, such as the energy crisis. You’ll have noticed other bills and your weekly food shop going up, and we’re seeing similar increases too. We're doing everything we can to manage these increases, although we need to make sure that we’re still offering a great service for our customers when they need us most.

Why is my price higher than last year?

There’s been a big increase in the cost of customer claims, due to labour and materials, as well as the number of people who are making claims rising too. So, to make sure we can cover these additional costs, you may have seen your price go up – even if you haven’t made a claim yourself.

Some reasons for your price going up


Construction costs

went up by 15% in 20221

Weather warning

Climate change

has caused some major weather events in the UK, which has led to a spike in claims - which led to 170,0001 storm damage claims in 20221, paying out £473 million1 to help affected customers.


Claim pay outs

The average claim has risen 24% up to £4,3001.

icon of subsidence


The 2022 heatwaves led to 18,000 subsidence claims across the industry that year, averaging one claim every 15 minutes.



Police-reported crime, including home theft, increased by 14% as of the end of 2022 (Source: Crime in England and Wales - Office for National Statistics (ons.gov.uk))

1All stats are from the Association of British Insurers (ABI), who collate data for the whole insurance industry.

Frequently asked questions

Why has my price gone up when I haven’t made a claim?

The cost and number of claims has increased over the past year, and as your premium is put into a pot with others for claim payouts, this then needs to stretch further. So, even if you haven’t made a claim, you may see your price increase.

For example, a house fire can lead to a high-cost claim if many possessions are destroyed and there's lots of damage to the building. What you pay for your insurance wouldn't cover the full cost of this claim, so the rest would come out of the pot instead.

There needs to be enough money for future claims, and around 52% of what customers pay for their insurance price is then used to pay out on claims.

Find out more about how your premium is split on our premiums explained page.

Could I get a cheaper price as a new customer?

In 2022, the FCA changed some of their rules, so now existing customers will need to get the same (or sometimes a cheaper) price than a new customer on a like for like policy, quoted on the same day.

If you want to know more head to our pricing and renewals page.

How can I reduce the cost of my insurance?

Although there’s things you can do to try and reduce the cost of your insurance, you need to make sure you’ve still got the cover you need. As if you were to make a claim, you might not be covered. You can look at:

  • Your optional extras

    make sure that these are still relevant to you before you renew

  • Your details

    even the smallest of changes can affect your price, so always keep your details up to date

  • Paying for cover twice

    check that you aren’t paying for the same cover elsewhere, for example boiler cover with your gas provider

  • Amount of cover

    if your policy is one of our older products, (example of older sc policy?) look to see if one of our new lower tier products has the cover you need at a lower cost

Can I get financial support?

Paying on time is important, but we understand that it’s not always that easy. If you’d like to talk to us about your insurance payments, please contact us so we can try to help.

Or you can also check out these resources for more support and advice:

Citizens advice


Money and Pensions Service

Government advice on benefits