The average buildings insurance premium has increased by 50p hitting a record high of £218.53 a year, as the cost of cover rose for the eighth consecutive quarter.
The AA said the 8% increase in the price of buildings insurance during the past year was the biggest jump it had seen since it began collecting the data in 1994.
Also the downward trend in the cost of home contents insurance over recent months has now reversed with premiums for the cover jumping by 2.7% during the quarter to average £126.34, according to the AA.
However, with home insurance premiums only increasing by a few pounds since the index began 1994, the AA said they still offered good value for money.
Simon Douglas, director of AA insurance, said the premium for home contents insurance has increased by almost 1% every month over the past quarter, which is an unusually steep rise.
He said the high number of fraudulent claims made last year was part of the reason for the increase.
"Fraud thrives during times of recession and the inevitable result is an increase in premiums," he added.
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