Co-op Home Insurance pricing explained

Home insurance varies and what you pay one year may not be what you pay the next year.

Here's a breakdown of pricing and what affects it. We hope this helps to explain the price change of your home insurance from year to year. 

Where your money goes

Cost breakdown

The table shows the amount of money put into our Home policies. This includes buildings, contents and combined policies.

Claims Expenses Tax Profit
41% 42% 11% 6%

Why do I have to pay more than last year?

This is one of the most common questions we receive. There are several reasons why the price may change:


Putting things right costs money and these costs can increase or decrease every year. These include building materials and labour.


If you have a no claim discount and you haven't made a claim in the last year, we'll give you up to 40% discount at renewal. If you've made a claim, your discount will reduce unless you have protected it.


Insurance Premium Tax can vary. Since June 2017, you pay £12 for every £100 premium.

Removal of introductory discounts

We offer introductory discounts to attract new customers. These offers are removed, not all in one go, but over a number of years.

Prediction of future claims

We are always trying to improve our understanding of what may happen in the future. This means our prices will change over time as we learn more. Your price could increase or decrease due to this.

Future improvements

We need to change the price of our insurance so we can make a profit. We put this back into our business to develop and improve the service we offer to you. Our profits also fund community projects.

What is the information based on?

The cost breakdown shows approximate figures which represent a typical year. The figures displayed here are for 2017 and are for guidance only.