The harsh winter weather experienced by Brits over the last couple of years has placed insurance companies under stress.
With families across the country making claims as a result of high winds, snow and ice, insurance premiums have begun to rise.
Over the last three months of 2011, building premiums rose from £152.18 to £156.95 on average - a rise of 3.1 percentage points.
Contents premiums also rose by 4.4 percentage points to £80.58 from £77.21, posting an annual increase of 11.2 per cent.
Additionally, combined buildings and contents premiums increased by 2.9 percentage points, a 5.6 per cent raise overall.
Consequently, improving
home security should be at the top of people's agenda - in addition to general maintenance measures - to ensure homes are secure.
John Portwood, personal lines insurance broker at Portwood & Co, explained that there will always be some sort increase in insurance premiums because of "index linking", whereby premiums raise in line with inflation.
What's more, "insurance companies are under pressure from the FSA [Financial Services Authority] to ensure that all forms of insurance are underwritten for profit rather than as loss-leaders."
Combined with last year's harsh winter and the recession driving up the number of fraudulent insurance claims, insurers have been forced to turn to price hikes.
"I would expect a steady rise in the price of home insurance policies this year," Mr Portwood advised.
However, he urged Brits to remember that the home is their "largest single investment", which could simultaneously yield the greatest losses if not insured correctly.
"When they need to make a claim they won't care how much the premium was that they paid," he said.
With the average family debt increasing by 48 per cent over the past 12 months, according to Aviva, protecting against unexpected financial blows is especially vital should theft or home emergency occur.
