Where you live affects what you pay

15th November, 2005

Home insurance costs vary on a regional basis, says a new report, with people in Wokingham facing the most expensive bills for their buildings insurance.

Www.confused.com's research also names Greater London as the most expensive area for contents insurance, with average premiums costing around £233.

Scotland emerged as the cheapest area to live in terms of home insurance, with many premiums three times cheaper than those elsewhere in the country.

The company claims that the average cost of buildings insurance across the UK stands at £151.27, while home contents insurance comes in at an average price of £98.94 so anyone paying over these amounts should look around for a better deal.

Kate Armstrong, managing director of Confused.com said: 'Insurance companies use postcodes because they can match homes with the history of past claims enabling them to give an instant quote.

'Because of this every area will have a different average premium, and from year to year your insurance premiums may change.'

To illustrate, she uses the example of buildings insurance in Wokingham. While the average price of building insurance there may be £292, the cheapest rate she found was £209, while the most expensive was £357.

She concludes that comparing home insurance prices is always a good idea before you buy.

 

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