Home insurance premiums on the up in St Albans and Harpenden
PUBLISHED: 13:57 23 September 2020 | UPDATED: 14:15 23 September 2020
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.
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Guernsey saw the biggest increase (28 per cent), while St Albans tied with Bromley in fourth place.
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.
“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.”
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