Want to compare house insurance premiums? You’ve come to the right place. When you shop around for house insurance, you don’t want to buy the first insurance policy you encounter. Rather, you want to compare premiums, preferably from multiple insurance companies.
If you compare house insurance premiums, you will get an idea about how much money you will spend to protect your house and what kinds of coverage it will get. By comparing, you will find the right policy that suits your needs.
To help you find the right house insurance policy, we compare house insurance premiums UK by region, property type, and the number of bedrooms. We also tell you factors that affect the cost of house insurance and how to get cheaper house insurance. Ready? Let’s start right away.
Compare House Insurance Premiums by Region
When you go to a website to compare house insurance quotes, it will ask you for your postcode. Why is that? Because the location where you live in the country matters a lot. Below, we compare house insurance premiums by region.
1. Greater London
Greater London is the most expensive in the UK. The average house insurance premiums are $224 for buildings insurance, $112 for contents insurance, and $315 for buildings and contents insurance.
2. Northern Ireland
The second most expensive region is Northern Ireland. The average premiums are $221 for buildings insurance, $102 for contents, and $263 for buildings and contents insurance.
3. South East
The average premium for buildings insurance in the South East is $191, for contents insurance $83, and for buildings and contents insurance $247, respectively.
If we compare house insurance premiums between the previous three regions and Scotland, the differences are quite noticeable.
In Scotland, the average premiums are $160 for buildings insurance, $85 for contents, and $211 for buildings and contents insurance.
5. North East
In terms of house insurance premiums, the North East is the least expensive region in the country. The premiums are $144 for buildings insurance, $82 for contents, and $183 for buildings and contents insurance.
Compare House Insurance Premiums by Property Type
What type of property do you own? Is it a house, bungalow, or flat? The type of property also affects house insurance premiums. Alright, let’s compare house insurance premiums by property type.
On average, house insurance premiums for buildings and contents are $225 for a house, $199 for a bungalow, and $206 for a flat.
In addition, premiums for listed buildings are more expensive than unlisted ones. For example, insuring a non-listed building costs $219 on average, while a listed one costs $434 on average.
Why are the premiums different? There are two reasons why. The first reason is the rebuild value. Rebuilding a house is more expensive than rebuilding a bungalow or a flat. Hence, the more expensive premium.
The second reason is repair costs. Listed buildings are more costly to repair than their non-listed counterparts. Remember these when you compare house insurance premiums by property type.
Compare House Insurance Premiums by the Number of Bedrooms
Our next comparison is based on the number of bedrooms in a house. The more bedrooms there are, the more expensive the premiums will be. Let’s compare house insurance premiums by the number of bedrooms.
On average, a house with a single bedroom costs $157 to insure. A house with two bedrooms costs slightly more expensive, $160 on average.
The premium starts to jump with three bedrooms. On average, the premium to insure a house with three bedrooms is $189. Meanwhile, it costs $263 on average to insure a house with four bedrooms.
Notice the 66% increase from a single-bedroom house to a four-bedroom house.
What Affects the Cost of House Insurance?
After we compare house insurance premiums by region, property type, and the number of bedrooms, you might wonder what affects the cost of house insurance. There are many factors at play when it comes to house insurance premiums, such as
1. How secure the house is
Do your house have professionally fitted locks on windows and doors, smoke alarms, and burglar alarms? The more secure a house is, the less costly the house insurance will be.
If the house is located in an area that is not prone to vandalism and burglaries or not in a flood zone, the premium will cost less.
3. The condition of the house
The better condition of the house is, the lesser the premium will cost.
4. The type of cover
There are three types of coverage: building insurance, contents insurance, and combined, which covers both the building and the contents.
Just like other types of insurance, house insurance premiums are also affected by excess. The higher the excess, the lower the premiums, and vice versa.
The value of contents and possessions
The more valuable the contents and possessions, the higher the premium will be.
How to Get Cheaper House Insurance
When you compare house insurance premiums, you want to find insurance policies that meet your needs and budget. Our tips below can help you find cheaper house insurance.
1. Pay annually
Overall, paying annually actually costs less than paying monthly. If you pay on a monthly basis, you will be charged interest.
2. Buy a combined policy
Buying a combined policy usually ends up cheaper than buying two separate policies from two insurers.
3. Don’t take out add-ons that you don’t really need
You might find some add-ons tempting. But if you don’t really need them, don’t take them out.
4. Pay for the right level of cover
Instead, buy only a policy that meets your needs.
5. Improve your house security
If you haven’t installed secure locks, smoke alarms, and burglar alarms yet, now is a good time to do so.
Before you decide on which house insurance policy to buy, you want to compare house insurance premiums first. Comparing premiums is the best way to find the right house insurance policy that not only meets your needs but also your budget.
You can compare house insurance premiums by region, property type, as well as the number of bedrooms. Note that the above are only estimates. After all, many factors are at play when it comes to premiums. If you want to get precise numbers, get free house insurance quotes from insurance companies.