Insurance costs have increased steadily up until April 2025 where we successfully tendered out the insurance resulting in a price reduction. There have been some steep price hikes over the years with eth key drivers being:
- Climate change and extreme weather (flooding, storms) continue to push claims higher.
- Construction and material costs remain elevated, though less volatile than in 2024.
- Current claim history
We expect a further increase in 2026/27 although a more moderate one compared to the hikes prior to 2025.
