Consumers hit by home insurance costs hike

CASH-STRAPPED consumers are facing another financial hit to their pocket with news that the cost of home insurance has risen by an average of 6% since April.

A survey by AA Ireland reveals that the average price of a home insurance policy has increased by €28 to €494 per annum.

It also means that home insurance costs are soaring well above the general rate of inflation which stood at 2.7% in July.