Britain's number one comparison site analysed over two million home insurance quotes over 12 months, revealing homeowners in Bournemouth enjoy the UK's cheapest premiums and pay £60 less than the average of £164 a year
1.
The research confirms Greater London postcodes are the most expensive for home insurance, making up all of the top ten most expensive areas, with those living in Stanmore in Harrow, Golders Green, and Dulwich paying the price for their postcode with insurance 74 per cent (£122) more than the UK average and as much as 176 (£183) per cent more expensive than their counterparts in Bournemouth2.
HOME INSURANCE 2009 - AVERAGE CHEAPEST PREMIUM BY POST AREA
Overall Average: £164.26
1 The 10 cheapest areas in UK for home insurance
|
Post Area |
Post Area |
Average Cheapest Premium |
|
BH2 |
Bournemouth (Central) |
£103.98 |
|
YO1 |
York |
£109.22 |
|
G5 |
Glasgow (Gorbals) |
£110.73 |
|
SP9 |
Tidworth, Wiltshire |
£110.79 |
|
NG1 |
Nottingham |
£111.87 |
|
LE1 |
Leicester |
£116.38 |
|
BT92 |
Enniskillen, Northern Ireland |
£116.39 |
|
BH4 |
Bournemouth (Westbourne) |
£116.78 |
|
AB16 |
Aberdeen (Mastrick, Northfield, Middlefield, Cornhill) |
£117.00 |
|
CF10 |
Cardiff (Grangetown, Butetown) |
£118.12 |
Quotes based on a total sample size of 2,377,250
January - December 2009.
2 Top 10 most expensive areas in UK for home insurance
|
Post Area |
Post Area |
Average Cheapest Premium |
|
HA7 |
Stanmore, Harrow |
£286.50 |
|
NW11 |
Golders GreenBarnet, London |
£280.59 |
|
SE21 |
Southwark/ Dulwich, London |
£279.07 |
|
NW7 |
Mill Hill DistrictBarnett, London |
£270.76 |
|
HA6 |
Northwood, Hillingdon |
£268.47 |
|
HA3 |
Harrow |
£266.46 |
|
HA8 |
Edgware, London |
£265.27 |
|
HA9 |
Brent, Wembley, Brent |
£265.17 |
|
SW13 |
Barnes, Richmond upon- Thames, London |
£259.12 |
|
N21 |
Winchmore Hill, Enfield, London |
£258.40 |
Quotes based on a total sample size of 2,377,250
January - December 2009
Julie Owens, head of home insurance at moneysupermarket.com said: "Many homeowners just don't realise their postcode is a big contributing factor to how much they pay for their home insurance premium, and that it can really hike the price. Homeowners just need to be sure they are getting the best deal possible. Those in sunny Bournemouth can make the most of more affordable premiums but for others across the country not shopping around means they are effectively watching their hard earned cash go up the chimney.
"Similarly, if your property is classified as being in a 'high-risk' area - whether for crime, flooding or even subsidence - it will be reflected in your insurance premiums. Living in a more affluent area will also increase premiums as property and contents values will generally be higher. Insurers use post codes as a part of the overall risk factor when calculating premiums. Although there is very little you can do about the postcode in which you live in, except move house, there are steps you can take to reduce your premiums. For example, installing a good home security system and security lighting."
-Ends-
Notes to Editors:
moneysupermarket.com's top tips for cheaper home insurance:
Reduce your premium by implementing effective security measures and reduce your risk of making a claim.
- Change the locks - If you've moved to a new home you never know who might still have a key. It is important to maintain locks. Five-lever mortise locks are recommended for external doors while windows should ideally have two bolt locks.
- Install a good home security system - Sometimes there are alarm systems that might be preferred by an insurer. The NACOSS standard alarm can cut premiums with some companies by 7.5 per cent.
- Time-switch lights - Your home is more vulnerable to theft when you are not around. Time-switch lights will give the impression that you are at home.
- If you are away - Remember to cancel newspaper and milk deliveries and ask someone you can trust to open and close the curtains and collect mail.
- Keys - Don't leave them in obvious places such as under a doormat. Also beware of 'hook n crook' thefts - where keys are left so close to a door that a burglar can simply hook them through a letterbox and open the door.
- Install security lighting - illuminate your visitors for their safety as well as your own. Unwelcome visitors are less likely to loiter if they're 'in the spotlight'.
- Join a neighbourhood watch campaign - this can help to reduce your premium if you inform the home insurance company of your participation in a scheme. It can reduce your premiums by up to 5 per cent.
- Avoid frozen and burst pipes - If you think pipes are frozen, turn off water at the valve and header tank to cut down the water that can escape.
- Look out for subsidence - One of the most common problems to affect the home but usually covered in your building insurance policy. Look to see the excess level on subsidence and if your garden walls are covered.
- Fire - Fit a smoke alarm and take simple steps to avoid accidents. Most fires in the home are caused by smoking or cooking; never smoke in bed, don't leave cigarettes lying around and don't leave cooking unattended. Other fire tips include closing doors at night to contain fires, check the home is safe before going to bed and keep matches away from children.
- Don't smoke - As covered above, the fire risk greatly increases if you smoke cigarettes. Most insurers will now ask if you are a smoker.
- Increase your voluntary excess - The amount of excess is the money you are willing to pay on claims. So, for example, if you had a £50 excess and a £100 claim you would pay half and the insurer the other half. The higher the excess you are willing to pay, the lower your premium. This can be as much as 20% with some companies for as little as £250 excess.
- Think about your cover - Do you really need accidental damage cover? This can increase premiums by 25%. Think carefully about the add-ons you need.
- Don't claim unless you need to - The fewer the claims, the higher your no claims discount. So for minor issues that would be inexpensive for you to cover with your own cash, think twice before making a claim.
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