Pearson Ham Group’s latest General Insurance Pricing Index reported a 0.4% rise in home insurance premiums for November, pushing the annual increase to 17%. In contrast, it found motor insurance prices had fallen by 2.2% in the month and were now 15% down compared to the same time last year.

Stephen Kennedy, director at Pearson Ham Group, said: “November’s data highlights the contrasting pressures shaping the home and motor insurance markets. Home insurance premiums have plateaued as providers adjust to inflationary factors and regional dynamics, whereas motor insurance prices continue to decline under competitive market conditions.

“While home insurance premiums have flattened, the fall in motor premiums – particularly for lower-value vehicles – reflects insurers’ efforts to attract and retain customers in an increasingly price-sensitive environment. These movements underline the need for insurers to remain agile and responsive as market conditions evolve.”