Research by moneysupermarket.com has revealed the UK hotspots for cheaper home insurance.

Lucky southerners living in sunny Bournemouth have the cheapest average premium of £103.98, which is £60 less than the national average.

York and Glasgow are the runners-up with an average of £109.22 and £110.73 respectively, closely followed by Tidworth, Nottingham and Leicester.

The data, based on a year’s worth of home insurance premiums quoted to over 2 million people, also shows that Greater London postcodes are the most expensive, but there are no surprises there.

The top 10 most expensive average premiums were all quoted in Greater London areas; Stanmore, in Harrow, topped the list with £286.50, closely followed by Golders Green with 280.59, and Dulwich with £279.07. This unenviable list also includes Mill Hill, Northwood and Edgware.

The top 3 are paying close to 75% more than the UK average, and up to 176% more than the money savers in Bournemouth.

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.”

“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.”

This entry was posted on Wednesday, May 19th, 2010 at 8:36 am and is filed under Home Insurance, Money Saving Tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.