Home insurance premiums on the up in St Albans and Harpenden
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St Albans and Harpenden residents are paying some of the highest home insurance premiums in the UK - and rates are rising.
This put St Albans, Harpenden, Hatfield, Welwyn Garden City and Welwyn - which share the AL postcode - in tenth place in a UK-wide countdown of pricey premiums. Guernsey’s GY postcode topped the list with an average price of £250.15.
The research, which is based on millions of customer quotes, shows that the average combined home insurance cost UK-wide now stands at £146.72, the highest since 2013 where prices peaked at £154.43.
The AL area also recorded a 15 per cent increase in combined contents and buildings insurance when compared with the same period in 2013, when the average cost was £163.98.
Guernsey saw the biggest increase (28 per cent), while St Albans tied with Bromley in fourth place.
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Kate Devine, head of home insurance at MoneySuperMarket, said the COVID-19 lockdown, which ran from 23 March until restrictions started to ease in June, may have played a part.
She said: “With many people remaining constantly at home – schooling, working and even exercising – the rate of accidental damage becomes significantly higher, and more claims spell higher costs for insurers.
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“In the coming months, it’s likely the home insurance costs will fluctuate. For example, the government’s stamp duty break is encouraging a spike in home moves, which could potentially cause a subsequent impact on home insurance costs.”