Source Insurance has again reduced premiums for household and landlord property insurance.

Kevin Paterson (pictured), the Source’s managing director, said: “Better than expected claims experience in the last couple of years coupled to an increased appetite from household insurers is driving the aggressive pricing, given the size of our household and landlord panels we have seen a significant rise in monthly rate reductions with more forecast throughout the year.

“We are also seeing more and more customers fall into the expanding non-standard category and as such we have been working with an increasing number of insurers on our panel that are keen to price more competitively for this business.

“Overall, it’s good news for clients as more and more insurers are fighting for your business.”