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1 AA British Insurance Premium Index AA British Insurance Premium Index Quarter January 2014 The AA British Insurance Premium Index (Index) has been tracking the quarterly movement of car and home insurance since It measures the market average premium (an average of all quotes on a UK-representative basket of 'customers') as well as the five cheapest quotes for each 'customer' to provide the index. Motor insurance premiums 2 Home insurance premiums 7 Index home and motor quarterly moves 11 Index market average trends since Media contact Ian Crowder The information in the Index may only be used internally by the business (Internal Business Use) on the following terms. Internal Business Use means use of the information contained in the Index in reports and submissions that do not carry advertising in internal business activities. It specifically excludes any commercial use and exploitation including any use whereby the user obtains direct or indirect revenue, for example as part of any publishing activity, promotion, marketing or advertising. The AA copyright notice must be displayed on all such information. Press journalists may use the Index for editorial purposes without prior permission. Any use of the Index other than as above is not permitted without the prior written consent of the AA (contact details above). The AA excludes all implied warranties and conditions to the fullest extent permitted by law. The AA does not in any way warrant the accuracy or completeness of the Index, and by using the Index the user acknowledges that it is relying upon its own skill in determining its suitability for any general or specific purpose and accepts that the Index may not be error free. Automobile Association Insurance Services Limited is authorised and regulated by the Financial Conduct Authority (FCA). Automobile Association Insurance Services Limited 2014 Page 1

2 AA British Insurance Premium Index Motor insurance premiums Quarter Over 100 sliced off car premiums in just two years Another record fall as premium plunge continues, AA Index finds Premium falls are boon for motorists, but will soon end AA predicts The latest benchmark AA British Insurance Premium Index shows further record falls in the cost of car insurance, continuing the downward plunge that started during the first half of Over the last three months of 2013, the AA's quote an aggregate of the five cheapest premiums for both price comparison sites and the direct and broker market fell by a further 4.6%. And at 14.1% over the year this is the biggest annual fall ever recorded by the Index. The average quoted premium for an annual comprehensive car insurance policy is now 533, down from 559. This compares with 663 two years ago. Simon Douglas, director of AA Insurance, says: "These record falls come despite continuing rises in the cost of personal injury claims and reinsurance costs. "The falls are a combination of both the fiercely competitive nature of the market as well as the anticipation that law changes will weed out costly fraudulent whiplash injury claims." Mr Douglas also points out that over recent years court awards for those seriously injured in car crashes have increased. "The industry is seeing more multi-million pound lump sum payments for those who have suffered life-changing injury as well as periodic payment orders [PPOs] which guarantee regular payments for life. "These have led reinsurers to increase their rates by up to 3 and some of that will find its way to premiums paid by motorists." Continued Automobile Association Insurance Services Limited 2014 Page 2

3 AA British Insurance Premium Index summary all channels* % Jan-13 % Comprehensive TPFT Note: TPFT appears to have a higher premium than comprehensive because the basket of risks reflects the type of driver that buys such cover, typically young drivers. * Aggregate of price comparison site and direct/broker markets. Flooding The heavy rain which flooded many roads throughout the UK in December resulted in thousands of cars being seriously damaged by flood water. Pointing out that 7 of cars affected by floods are written off by insurers, the cost could run to tens of millions of pounds. The AA's Special Operations team, whose crews are trained in flood rescue and who use specially adapted Land Rovers, attended around 2,500 cars that had come to grief in flood water over the past month. Mr Douglas says that many cars had been driven past 'road closed' signs or against advice to drive through flood water. "Under such circumstances an insurer could refuse to meet a claim for a car wrecked by flood water," he says. Gender directive The first anniversary of the European Court of Justice ruling that stopped insurers from using gender as a rating factor passed on 23 December; warnings that premiums for young women could increase by as much as 4 did not realise. "Falling premiums have masked any increase by young women, while those who bought their insurance prior to the ruling coming into effect would additionally have benefited from a year's no claim bonus, typically amounting to 3. As a result, assuming they had made no claim, young women are likely to have seen little change, or even a small fall, in the cost of their cover. "On the other hand, young men will have seen a fairly significant drop," says Mr Douglas. Insurance industry changes Later this year, 'My Licence' will be introduced, a joint insurance industry and DVLA initiative. It means motorists renewing their insurance will be asked to provide their driving licence number (DLN) in future. This will enable insurers to populate a car insurance application with details of the driver's experience, convictions, date of passing their test and other information. Automobile Association Insurance Services Limited 2014 Page 3

4 AA British Insurance Premium Index "Up to a quarter of insurance applications get some of this information wrong and there's no doubt that many may 'forget' that they have points on their licence," says Mr Douglas "It's estimated that cutting out errors and streamlining the application process will contribute on average a 15 reduction in the cost of cover." In addition, the insurance industry is subject to a Competition Commission inquiry, which is likely to result in a more efficient accident management process that could also deliver premium reductions. Will premiums continue to fall? However, while these initiatives are good news, Mr Douglas fears that premiums have been falling too fast and too far ahead of benefits that might be brought by much-anticipated changes to car insurance claims and the application process. "The past year has seen premiums fall by the largest quarterly percentage since our Index began 20 years ago in 1994: the 4.6% fall over the past quarter beat the previous quarter's record by 0.1%. "It's as if premiums are on a helter-skelter slide, and I fear the downward spiral will end with a bump. "Yet while I expect the fall to continue at a slower rate over the first quarter of 2014, I think they will then level off. "But my biggest fear is that the falls are too great, and premiums will bounce sharply up again later in the year. "That would not be good for the reputation of the industry. It would confound ministers who have been taking some of the credit for falling premiums. And it will perplex drivers who thought that premiums were returning to a more realistic level." Continued Automobile Association Insurance Services Limited 2014 Page 4

5 AA British Insurance Premium Index Winners and losers Regionally, although the North-West remains the most costly region to insure a car, it has seen the greatest fall over the past quarter with a 6.3% drop. It is followed by the South, which saw a 5.5% fall. Scotland remains by some way cheapest region to insure a car premiums fell here by 4.9%.over the last quarter of winners and losers by region Region % Anglia % Border & Tyne Tees % Central % North-West % London % Scotland % South % Wales % West & West Country % Yorkshire % Source: AA British Insurance Premium Index. The number of risks in Northern Ireland is too small for meaningful data. winners and losers by age Age Quarterly change % , Source: AA British Insurance Premium Index. Continued Automobile Association Insurance Services Limited 2014 Page 5

6 AA British Insurance Premium Index Summary tables and charts Download the Index (csv file) for motor insurance 2800 risks for car insurance Motor insurance charts direct market Quarterly movements for car insurance Motor insurance average premiums January 2014 (table) Motor insurance summary region and age January 2014 (table) Premium changes by age Premium changes by region Motor insurance comprehensive premium trends Motor insurance TPFT premium trends Motor insurance charts price comparison market Motor insurance average premiums January 2014 (table) Motor insurance summary region and age January 2014 (table) Premium changes by age Premium changes by region Automobile Association Insurance Services Limited 2014 Page 6

7 AA British Insurance Premium Index Home insurance premiums Quarter Premiums still falling despite floods average home contents insurance at a ten-year low, AA Index finds December floods have not stopped downward premium trend Flood Re questions remain Despite the gales that battered Britain's homes towards the end of 2013, home insurance premiums have continued to tumble. The latest AA British Insurance Premium Index shows that the cost of buildings, contents and combined home policies all fell during the last quarter of They have either remained static or fallen every quarter for the past two years. The average quote for a buildings policy was down 2.6% over the last three months of 2013, to 125 (down 8.3% over the year); contents down 2. to 65 (6.6% over the year); and down 3. to 165 for a combined policy (8.5% over the year). In fact, the market average quote for a home contents policy is at a ten-year low, and is less today than when the AA's Index launched in summary all channels* % Jan-13 % Buildings Contents Combined * Aggregate of price comparison site and direct/broker markets. Simon Douglas, director of AA Insurance says: "Homes have felt the full force of the elements over recent weeks, with insurers expected to meet claims in the order of 400 million. But over the year as a whole the number and cost of severe weather claims are, according to some estimates, about 12% lower than in 2012, and significantly lower than the 2007 flood disaster. 2 Continued 1 The market average is the average of all quoted premiums on the direct/broker market. 2 Source: Deloitte home insurance trends Automobile Association Insurance Services Limited 2014 Page 7

8 AA British Insurance Premium Index "This has benefited householders with the average quote for home cover falling. Indeed, home insurance continues to represent extremely good value for money with premiums in some cases at an all-time low." Mr Douglas points to the market average quote (the average direct/broker quote of all 'customers' in the basket of risks) for contents cover, which averaged 103 when the AA's index was launched nearly 20 years ago but today is 2 cheaper. Flood protection The recent storms have shown the benefit of government and local authority investment in flood defences. Mr Douglas points out that around 220,000 home were protected in December 2013 which would otherwise have been inundated by tidal surges, or flooding from rivers and other watercourses. "To my mind, that represents extremely good value for money given the high cost of flood damage. Not just to homes and businesses that are protected by insurance, but damage to roads and infrastructure, agricultural land, business interruption, tourism and local economies. And quite apart from the emotional damage and lost work days suffered by those affected. "This underlines the importance of ensuring that flood alleviation must continue to be a top priority for the government, given overwhelming scientific evidence that severe weather is no longer an exceptional feature of the British climate," he says. Flood Re protection for all? Many homes in flood-prone areas have been flooded more than once in recent weeks. This underlines the importance of ensuring that the Flood Re proposals, which are expected to become enshrined in the Water Bill by mid 2015 at the earliest, ensure that the maximum number of families are protected. Flood Re is the new legislation designed to ensure that homes at greatest risk of flooding can continue to obtain affordable home insurance, linked to their Council Tax band. It replaces an informal 'statement of principles' between the insurance industry and the government which has been in force since Flood Re will be funded by a levy equivalent to around 10 on every home insurance policy. But Mr Douglas points out that there are still areas of disagreement on the extent of cover that Flood Re will provide. Continued Automobile Association Insurance Services Limited 2014 Page 8

9 AA British Insurance Premium Index "At present small businesses and that could include families offering bed-and-breakfast accommodation homes built after 2009, those not lived in by the policyholder, for example homes that are let, and homes on the highest council tax band are excluded. "Bizarrely, it also means that some properties at a real but lower risk of flooding could pay higher premiums than high risk homes protected by Flood Re." Will premiums continue to fall? Mr Douglas expects the downward premium trend to continue. "The market continues to be competitive. This is good news for policyholders and means that there are deals to be done for those who shop around for their cover. "But it is important not to confuse cheap premiums with value for money make sure that the cover you buy does what you need it to." Summary tables and charts Download the Index (csv file) for home insurance: 750 risks for home insurance Continued Automobile Association Insurance Services Limited 2014 Page 9

10 AA British Insurance Premium Index Home insurance charts direct market Quarterly movements for home insurance Home insurance average premiums January 2014 (table) Home insurance buildings average premiums January 2014 (table) Home insurance contents average premiums January 2014 (table) Home insurance combined average premiums January 2014 (table) Premium changes by region Premium changes by age Premium changes by property type Premium changes by year built Home insurance buildings premium trends Home insurance contents premium trends Home insurance charts price comparison market Home insurance average premiums January 2014 (table) Home insurance buildings average premiums January 2014 (table) Home insurance contents average premiums January 2014 (table) Home insurance combined average premiums January 2014 (table) Premium changes by region Premium changes by age Premium changes by property type Premium changes by year built Automobile Association Insurance Services Limited 2014 Page 10

11 AA British Insurance Premium Index quarterly moves - January 2014 Buildings Contents Combined Comp TPFT July 1994 market average premium October 2013 market average premium , January 2014 market average premium , October 2013 shoparound average premium , January 2014 shoparound average premium AA British Insurance Premium Index quarterly moves - January , , , Buildings Contents Combined Comp TPFT July 1994 market average premium October 2013 market average premium January 2014 market average premium October 2013 shoparound average premium January 2014 shoparound average premium A base rate of 100 was set at July The British Insurance Premium Index gives a quarterly update on the movements of home insurance on 750 risks each for buildings and contents, and on 2800 car insurance risks comprehensive and 300 TPFT. July 1994 and subsequent premiums are assumed average premiums rebased in line with BIPI production methods over time. The Index shows average car insurance premiums based on open market rates from 80 of the UK's leading insurers and home premiums across 72 insurers. Composites, direct writers and online providers are included. The quarterly move compares the market average premium this quarter with the previous quarter. The shoparound premium is the average of the five lowest premiums quoted by the insurers in the market survey. This more closely reflects the price paid, but does not take account of discretionary discounts offered. All premiums shown include Insurance Premium Tax at the prevailing rate. Premiums shown for July 1994 alone are free of IPT While it is not possible to include risks from every town in the UK, those selected are typical risks, reflecting a cross section of the insurance market. Movements by specific towns are checked separately using a basket of risks.

12 AA British Insurance Premium Index market average trends since Jul-94 Jan-95 Jul-95 Jan-96 Jul-96 Jan-97 Jul-97 Jan-98 Jul-98 Jan-99 Jul-99 Jan-00 Jul-00 Jan-01 Jul-01 Jan-02 Jul-02 Jan-03 Jul-03 Jan-04 Jul-04 Jan-05 Jul-05 Jan-06 Jul-06 Jan-07 Jul-07 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Motor Comp Motor TPFT Home Buildings Home Contents

13 Motor direct market summaries AA British Insurance Premium Index

14 AA British Insurance Premium Index quarterly moves - January 2014 Comp TPFT July 1994 market average premium October 2013 market average premium , January 2014 market average premium , October 2013 shoparound average premium , January 2014 shoparound average premium AA British Insurance Premium Index quarterly moves - January , , , Comp July 1994 market average premium October 2013 market average premium January 2014 market average premium October 2013 shoparound average premium January 2014 shoparound average premium TPFT A base rate of 100 was set at July The British Insurance Premium Index gives a quarterly update on the movements of 2800 car insurance risks comprehensive and 300 TPFT. July 1994 and subsequent premiums are assumed average premiums rebased in line with BIPI production methods over time. The Index shows average car insurance premiums based on open market rates from 80 of the UK's leading insurers. Composites, direct writers and online providers are included. The quarterly move compares the market average premium this quarter with the previous quarter. The shoparound premium is the average of the five lowest premiums quoted by the insurers in the market survey. This more closely reflects the price paid, but does not take account of discretionary discounts offered. All premiums shown include Insurance Premium Tax at the prevailing rate. Premiums shown for July 1994 alone are free of IPT While it is not possible to include risks from every town in the UK, those selected are typical risks, reflecting a cross section of the insurance market. Movements by specific towns are checked separately using a basket of risks.

15 Motor Average Premiums January 2014 Summary Average Premium Jan-13 Comprehensive % 1, Third Party Fire & Theft 1, , % 1, % Summary Average Premium Jan-13 Comprehensive % Third Party Fire & Theft , % 1, %

16 Motor Regional Summary - direct Region Anglia % % Border & TyneTees % % Central % % Granada 241 1, , % , % London 434 1, , % Scotland % % South % % UTV 69 1, , % % Wales % % West & West Country % % Yorkshire 221 1, , % % Motor Age Summary - direct Age , , % 1, , % , , % , % % % % % % % % %

17 AA BIPI motor quarterly average shoparound premium movement by Age January % % % % % -5.

18 AA BIPI motor quarterly average shoparound premium movement by Super Regions Anglia Border & TyneTees Central Granada London Scotland South UTV Wales West & West Country Yorkshire

19 1,200 1,150 1,100 1,050 1, AA BIPI Motor Comprehensive shoparound premium trends 45% 4 35% 3 Premium % 2 15% 1 5% Annual 400-5% Jan-10 May-10 Sep-10 Jan-11 May-11 Sep-11 Jan-12 May-12 Sep-12 Jan-13 May-13 Sep-13 Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13 Annual 22.6% 22.5% 30.9% 39.3% 33.2% 40.1% 30.1% 16.4% 15.3% 7.7% 8.5% 5.6% -2.8% -1.2% -9.7% % Comp Premium

20 AA BIPI Motor Third Party shoparound premium trends Premium 1,800 1,750 1,700 1,650 1,600 1,550 1,500 1,450 1,400 1,350 1,300 1,250 1,200 1,150 1,100 1,050 1, % 78% 68% 58% 48% 38% 28% 18% 8% Annual Jan-10 May-10 Sep-10 Jan-11 May-11 Sep-11 Jan-12 May-12 Sep-12 Jan-13 May-13 Sep-13 Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13 Annual 33.4% 35.6% 49.4% 54.6% 71.9% 82.1% 49.6% 33.1% 7.6% % 3.9% 2.7% 5.5% -3.4% -6.1% -14.1% 3rd Party Prem , , , , , , , , , , , ,

21 Motor price comparison market summaries AA British Insurance Premium Index

22 Motor Aggregator Average Premiums January 2014 Summary Average Premium Jan-13 Comprehensive % 1, % Third Party Fire & Theft 1, , % 1, % Summary Average Premium Jan-13 Comprehensive % % Third Party Fire & Theft % % Insurers Used 109

23 Motor Regional Summary - aggregator Region Anglia % % Border & TyneTees % % Central % % Granada 274 1, , % % London 463 1, , % % Scotland % % South % % Wales % % West & West Country % % Yorkshire , % % Motor Age Summary - aggregator Age , , % 1, , % , , % % % % % % % % % %

24 AA BIPI quarterly average premium movement by Age - Aggregator January % -6% -8% -1-12% -14% -16%

25 AA BIPI quarterly average premium movement by ITV Super Regions - Aggregator January 2014 Anglia Border & TyneTees Central Granada London Scotland South Wales West & West Country Yorkshire -3% -4% -5% -6% -7% -8% -9%

26 Home direct market summaries AA British Insurance Premium Index

27 AA British Insurance Premium Index quarterly moves - January 2014 Buildings Contents Combined July 1994 market average premium October 2013 market average premium January 2014 market average premium October 2013 shoparound average premium January 2014 shoparound average premium AA British Insurance Premium Index quarterly moves - January Buildings Contents Combined July 1994 market average premium October 2013 market average premium January 2014 market average premium October 2013 shoparound average premium January 2014 shoparound average premium A base rate of 100 was set at July The British Insurance Premium Index gives a quarterly update on the movements of home insurance on 750 risks each for buildings and contents. July 1994 and subsequent premiums are assumed average premiums rebased in line with BIPI production methods over time. The Index shows average home insurance premiums based on open market rates from 72 of the UK's leading insurers. Composites, direct writers and online providers are included. The quarterly move compares the market average premium this quarter with the same quarter last year. The shoparound premium is the average of the five lowest premiums quoted by the insurers in the market survey. This more closely reflects the price paid, but does not take account of discretionary discounts offered. All premiums shown include Insurance Premium Tax at the prevailing rate. Premiums shown for July 1994 alone are free of IPT While it is not possible to include risks from every town in the UK, those selected are typical risks, reflecting a cross section of the insurance market. Movements by specific towns are checked separately using a basket of risks.

28 Home Average Premiums January 2014 Summary Average Premium Jan-13 Buildings % % Contents % Combined % % Summary Average Premium Jan-13 Buildings % % Contents % Combined % %

29 Regional Summary Buildings Region Border & TyneTees % % Central & Granada % % London & South % % Scotland % % Wales % % West & West Country % % Yorkshire & Anglia % % Age Summary Buildings Age % % % % % % % % % % % Property Summary Buildings Property Type Detached Bungalow % % Detached House % End Terraced House % % First Floor Flat % % Mid Terraced House % % Semi Detached Bungalow % Semi Detached House % % Year Built Summary Buildings Year Built < % % % % % % % % % %

30 Regional Summary Contents Region Border & TyneTees % % Central & Granada % % London & South % % Scotland % % Wales % % West & West Country % % Yorkshire & Anglia % % Age Summary Contents Age % % % % % % % % % % % % % Property Summary Contents Property Type Detached Bungalow % Detached House % % End Terraced House % % First Floor Flat % % Mid Terraced House % % Semi Detached Bungalow % % Semi Detached House % Year Built Summary Contents Year Built < % % % % % % % %

31 Regional Summary Combined Region Border & TyneTees % % Central & Granada % % London & South % % Scotland % % Wales % % West & West Country % % Yorkshire & Anglia % % Age Summary Combined Age % % % % % % % % % % % % % Property Summary Combined Property Type Detached Bungalow % % Detached House % % End Terraced House % First Floor Flat % % Mid Terraced House % % Semi Detached Bungalow % % Semi Detached House % % Year Built Summary Combined Year Built < % % % % % % % % %

32 AA BIPI home quarterly average Buildings premium movements by Super Regions - January 2014 AA BIPI home quarterly average Contents premium movements by Super Regions - January % 1% 3% 1% 2% 1% Border & TyneTees Central & Granada London & South Scotland Wales West & West Country Yorkshire & Anglia Border & TyneTees Central & Granada London & South Scotland Wales West & West Country Yorkshire & Anglia AA BIPI home quarterly average Combined premium movements by Super Regions - January % 2% 2% 1% 1% Border & TyneTees Central & Granada London & South Scotland Wales West & West Country Yorkshire & Anglia -3%

33 AA BIPI home quarterly average Buildings premium movements by Age - January 2014 AA BIPI home quarterly average Contents premium movements by Age - January % 2% 1% 1% 1% % -4% -5% -6% -7% AA BIPI home quarterly average Combined premium movements by Age - January % -3% -4%

34 AA BIPI home quarterly average Buildings premium movements by Property Type - January 2014 AA BIPI home quarterly average Contents premium movements by Property Type - January % 1% 2% 1% -3% -4% -5% Detached Bungalow Detached House End Terraced House First Floor Flat Mid Terraced House Semi Detached Bungalow Semi Detached House -3% -4% -5% Detached Bungalow Detached House End Terraced House First Floor Flat Mid Terraced House Semi Detached Bungalow Semi Detached House -6% -6% AA BIPI home quarterly average Combined premium movements by Property Type - January 2014 Detached Bungalow Detached House End Terraced House First Floor Flat Mid Terraced House Semi Detached Bungalow Semi Detached House -3% -3% -4% -4% -5% -5%

35 AA BIPI home quarterly average Buildings premium movements by Year Built - January 2014 AA BIPI home quarterly average Contents premium movements by Year Built - January % 3% 2% 2% 2% 2% 1% 1% 1% 1% < < % AA BIPI home quarterly average Combined premium movements by Year Built - January % 1% 1% <

36 180 AA BIPI Home Buildings shoparound premium trends % 150 Premium % Annual % Jan-10 May-10 Sep-10 Jan-11 May-11 Sep-11 Jan-12 May-12 Sep-12 Jan-13 May-13 Sep-13 Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13 Annual 11.5% 6.7% 3.5% 7.5% 10.2% 13.6% 11.8% 14.3% 9.5% 7.1% 6.9% 5.2% 2.2% -0.8% -2.5% -8.4% -8.3% Buildings Premium

37 112 AA BIPI Home Contents shoparound premium trends % Premium % Annual % Jan-10 May-10 Sep-10 Jan-11 May-11 Sep-11 Jan-12 May-12 Sep-12 Jan-13 May-13 Sep-13 Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13 Annual 4.4% 1.6% 9.5% 14.9% 8.3% 11.9% 8.2% 5.8% 11.2% 3.7% 4.8% 3.3% -0.5% % -6.2% -7.6% Contents Premium

38 Home price comparison market summaries AA British Insurance Premium Index

39 Home Aggregator Average Premiums January 2014 Summary Average Premium Jan-13 Buildings % % Contents % % Combined % Summary Average Premium Jan-13 Buildings % % Contents % Combined % Buildings insurers used Contents insurers used Combined insurers used

40 Aggregator Regional Summary Buildings Region Border & TyneTees % % Central & Granada % % London & South % % Scotland % Wales % % West & West Country % % Yorkshire & Anglia % % Aggregator Age Summary Buildings Age % % % % % % % % % % % % % Aggregator Property Summary Buildings Property Type Detached Bungalow % % Detached House % % End Terraced House % First Floor Flat % % Mid Terraced House % % Semi Detached Bungalow % % Semi Detached House % % Aggregator Year Built Summary Buildings Year Built < % % % % % % % % %

41 Aggregator Regional Summary Contents Region Border & TyneTees % % Central & Granada % London & South % Scotland % % Wales % % West & West Country % % Yorkshire & Anglia % % Aggregator Age Summary Contents Age % % % % % % % % % % % % % % Aggregator Property Summary Contents Property Type Detached Bungalow % % Detached House % % End Terraced House % % First Floor Flat % Mid Terraced House % Semi Detached Bungalow Semi Detached House % % Aggregator Year Built Summary Contents Year Built < % % % % % % % % %

42 Aggregator Regional Summary Combined Region Border & TyneTees % % Central & Granada % London & South % % Scotland % % Wales % % West & West Country % % Yorkshire & Anglia % Aggregator Age Summary Combined Age % % % % % % % % % % % % % % Aggregator Property Summary Combined Property Type Detached Bungalow % % Detached House % % End Terraced House % First Floor Flat % % Mid Terraced House % % Semi Detached Bungalow % % Semi Detached House % Aggregator Year Built Summary Combined Year Built < % % % % % % % % %

43 AA BIPI home quarterly average Buildings premium movements by Super Regions - Aggregator January 2014 AA BIPI home quarterly average Contents premium movements by Super Regions - Aggregator January % -4% -5% Border & TyneTees Central & Granada London & South Scotland Wales West & West Country Yorkshire & Anglia -3% Border & TyneTees Central & Granada London & South Scotland Wales West & West Country Yorkshire & Anglia -6% -4% -7% -8% -5% -6% AA BIPI home quarterly average Combined premium movements by Super Regions - Aggregator January % Border & TyneTees Central & Granada London & South Scotland Wales West & West Country Yorkshire & Anglia -4% -5% -6% -7%

44 AA BIPI home quarterly average Buildings premium movements by Age - Aggregator January 2014 AA BIPI home quarterly average Contents premium movements by Age - Aggregator January % -3% -6% -4% -8% -5% -1-6% -12% -7% -14% AA BIPI home quarterly average Combined premium movements by Age - Aggregator January % -4% -5% -6% -7% -8% -9%

45 AA BIPI home quarterly average Buildings premium movements by Property Type - Aggregator January 2014 AA BIPI home quarterly average Contents premium movements by Property Type - Aggregator January % -4% -6% Detached Bungalow Detached House End Terraced House First Floor Flat Mid Terraced House Semi Detached Bungalow Semi Detached House -3% -4% -5% Detached Bungalow Detached House End Terraced House First Floor Flat Mid Terraced House Semi Detached Bungalow Semi Detached House -8% -6% -1-7% AA BIPI home quarterly average Combined premium movements by Property Type - Aggregator January % -4% Detached Bungalow Detached House End Terraced House First Floor Flat Mid Terraced House Semi Detached Bungalow Semi Detached House -5% -6% -7% -8%

46 AA BIPI home quarterly average Buildings premium movements by Year Built - Aggregator January 2014 AA BIPI home quarterly average Contents premium movements by Year Built - Aggregator January % 3% 6% 2% 4% 1% 2% -4% < % -4% < % -5% -8% -6% AA BIPI home quarterly average Combined premium movements by Year Built - Aggregator January 2014 < % -4% -5% -6% -7%

47 THE AA'S BRITISH INSURANCE PREMIUM INDEX - January 2014 Note: IPT at 2.5 per cent was introduced to premiums between July and October 1994 IPT was increased to 4% on 1 April 1997 and then to 5% on 1 July 1999 and then to 6% on 4 January 2011 Figures shown include IPT, whereas on July 1994 premiums IPT did not apply All figures are market average premiums Important Note The information contained in the British Insurance Premium Index ( Index ) is the AA copyright: Automobile Association Insurance Services Limited All rights reserved. The information may only be used internally by the business ( Internal Business Use ) on the following terms. Internal Business Use means use of the information contained in the Index in reports and submissions, that do not carry advertising, in internal business activities. It specifically excludes any commercial use and exploitation including any use whereby the user obtains direct or indirect revenue, for example as part of any publishing activity, promotion, marketing or advertising. The AA Copyright notice must be displayed on all such information. Press journalists may use the Index for editorial purposes without prior permission. Any use of the Index other than as above is not permitted without the prior written consent of the AA (details below). AA excludes all implied warranties and conditions to the fullest extent permitted by law. AA does not in any way warrant the accuracy or completeness of the Index and by using the Index the user acknowledges that it is relying upon its own skill in determining its suitability for any general or specific purpose and accepts that the Index may not be error free. Automobile Association Insurance Services Limited is an intermediary and is regulated by the Financial Conduct Authority. For further information, please contact Ian Crowder, telephone or

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