St Albans residents paying a premium for home insurance
Guernsey and Watford are the only areas outside London where homeowners are paying more for home insurance than they are in St Albans. Picture: Getty Images/iStockphoto - Credit: Getty Images/iStockphoto
St Albans homes are among the most expensive in the UK to insure, new data has revealed.
According to MoneySuperMarket, the St Albans postcode area ranks third on the list of the priciest places outside London, with an average annual home insurance premium of £174.
Guernsey bagged the top spot with £183, followed by Watford (£182), while Hemel (£161) was in eighth place.
Stevenage residents are paying just £143 on average, meaning the town was 20th on the list (or 40th out of 124 postcodes including London, behind St Albans which placed 18th).
MoneySuperMarket analysed millions of combined buildings and contents insurance quotes run on its site during the first three months of 2019 to reach its conclusions.
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Durham was found to be the cheapest location at £117, while homes in north west London (NW) were the most expensive to insure at £251. The average annual UK premium stands at £138.
Rachel Wait, consumer affairs spokesperson at MoneySuperMarket, said: "Home insurance prices have been on the rise for a couple of years now, with those in London facing the highest premiums, possibly due to higher burglary rates in urban areas. Meanwhile, extreme weather causing flooding and subsidence can impact insurance costs in places like Guernsey.
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"With higher prices and some insurance providers reserving their best offers for new customers, it's worthwhile shopping around when renewing. This allows you to compare prices and get the best deal possible."
To see the full list of data, visit https://www.moneysupermarket.com/home-insurance/price-comparison-index/
