More than 20m British households handed over some £6bn in home insurance premiums last year, with annual costs currently averaging £210 for buildings insurance and £147 for contents cover. At the same time, insurers paid out less than £2bn in claims in 2006, with the biggest group of payouts being for domestic break-ins, resulting in an average of £1,070 for 342,000 burglaries. While this may not sound the most consumer-friendly bargain, the Association of British Insurers (ABI) points out that premiums have fallen in real terms over the past decade, while 2006 was relatively benign for weather-related claims.

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