Building insurance premiums 'rise by 4.3%'

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The cost of building insurance premiums in the UK has risen by 4.3 per cent in the past 12 months, according to new figures.

AA's British Insurance Premium Index found that the average quoted premium for such cover now stands at £209.52, while the cost of contents insurance rose by 12p to £128.69.

It was also found that young drivers can now expect to be quoted a price of £884 for their motor insurance.

Discussing the findings, AA Insurance director Simon Douglas said: "Car insurance costs are spiralling.

"While the number of casualties on Britain's roads is falling the cost of accidents is rising and young drivers are taking an increasing share of the toll."

Research by Zurich recently found that holiday home owners are failing to take adequate steps to secure their properties.

It was found that around one in ten people with second homes abroad did not even know if their current level of insurance cover on the properties was sufficient.

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