General insurance provider Berkeley Alexander has published data that shows household buildings and contents insurance premiums began to soften at the start of this year.

Berkeley Alexander’s data, from across its nationwide household book, shows that in 35% of cases, premiums fell at the start of the year.

It says this runs counter to a pessimistic outlook “projected by others in the industry”.

In addition, of those policyholders that did see price increases on renewal, 46% only saw premiums rise by 5%, and 53% experienced increases under 10%.

Geoff Hall of Berkeley Alexander, said: “This is a welcome shift in market dynamics, with our data supporting a softening of home insurance premiums at the start of this new year.

“Premium rate increases have been punishing, driven by inflation and a hard market cycle, but policyholders are not out of the woods yet. Overriding economic conditions remain uncertain and high claim volumes continue to have a negative impact.

“Advisers still have a vital role to play; they’re the front-line in providing the best possible cover at the right price. Those that go beyond simply transacting insurance sales to delivering trusted advice based on needs and outcomes will reap the rewards of increased client retention. This is firmly supported by our data.”