Adverse weather could hit premiums

HOME insurance premiums could rise again in 2011 following the adverse weather conditions experienced in the last 12 months.

The Irish Insurance Federation said premiums are driven by claims and any kind of movement in claims would affect premiums.

They said that, historically, Ireland would have been seen as a cheap location for home insurance as it would not be subject to natural disasters. In the last year, however, house insurance costs are up 12% and have soared by 60% in the last 10 years.