Average home insurance premiums across the London have risen 7.6% following extreme Q1 events including the "Beast from the East" and John Blevins , according to Consumer Intelligence data. Direct Line's share price fell ~4% after it revealed it had used nearly all its £55m ( $73m ) weather budget in Q1 , while Esure reported £8m of claims in home insurance for the same period—£6m more than expected. Esure and smart homes' ability to detect problems early will help reduce premiums in the future, but not enough customers and insurers are taking up these solutions, said John Blevins from Consumer Intelligence .
Average home insurance premiums across the UK have risen 7.6% following extreme winter events including the "Beast from the East" and Storm Emma, according to Consumer Intelligence data. Direct Line's share price fell ~4% after it revealed it had used nearly all its £55m ($73m) weather budget in Q1, while Esure reported £8m of claims in home insurance for the same period—£6m more than expected. Insurtech and smart homes' ability to detect problems early will help reduce premiums in the future, but not enough customers and insurers are taking up these solutions, said John Blevins from Consumer Intelligence.