Car and home insurance costs set to head up

IF your car or home insurance is due for renewal in the next few months you might want to double check the cost compared to previous years.

It is feared that 2013 will herald the third consecutive year of premium increases, and whilst insurance companies won't provide details of the new rates until November, price rises are expected.

Le Point reports that car insurance premiums will see an average increase of 1.5% to 2%, while home insurance rates could increase by around 3%.

These rates of increase are a little down on previous years, but the upward trend continues due to more expensive compensation claims and car repairs.

So it may well be worth taking the time to check the prices of alternative providers instead of just sticking with your existing company upon renewal.