Home insurance costs have increased similarly, by 29 per cent. Meanwhile, consumer prices have only crept up by nine per cent.
Insurance firms have explained the price hikes with a number of reasons.
“The hikes in home insurance costs are due to a number of factors. A few unusual storms have taken place and caused tens of millions of euros in damage. Pipe leaks also seem to cause more and more damage,” explains Jari Sundström, the managing director at LähiTapiola.