Skip to main content
The Actuary: The magazine of the Institute and Faculty of Actuaries - return to the homepage Logo of The Actuary website
  • Search
  • Visit The Actuary Magazine on Facebook
  • Visit The Actuary Magazine on LinkedIn
  • Visit @TheActuaryMag on Twitter
Visit the website of the Institute and Faculty of Actuaries Logo of the Institute and Faculty of Actuaries

Main navigation

  • News
  • Features
    • General Features
    • Interviews
    • Students
    • Opinion
  • Topics
  • Knowledge
    • Business Skills
    • Careers
    • Events
    • Predictions by The Actuary
    • Whitepapers
    • Webinars
    • Podcasts
  • Jobs
  • IFoA
    • CEO Comment
    • IFoA News
    • People & Social News
    • President Comment
  • Archive
Quick links:
  • Home
  • News

Homeowners in London pay 31 per cent more insurance than the UK average

Open-access content Monday 7th September 2020 — updated 9.18am, Wednesday 9th September 2020
Authors
Huw Morris

@Shutterstock

London home owners pay almost a third more than the average in the UK to insure the property and contents, according to new figures.

Insurance comparison website Quotezone says that the UK average for a standard home insurance policy is £132 but  in the capital this rises to £174. Northern Ireland was the second most expensive region at £171 and the South East the cost is £127. North East homeowners receive the lowest average premiums of £112.

Owners of detached houses pay the highest premium for a standard home insurance policy, with an average quote of £150, followed by people who own a bungalow with an average premium of £131. Terraced houses are the cheapest properties to insure, with the average quote at £125.

The figures, from the Home Insurance Index launched by Quotezone.co.uk, is based on more than 20,000 standard properties taken from July 2019 to June 2020, and uses the cheapest home insurance premium offered to each policy-holder to calculate regional and national averages.

“Londoners probably won’t be overly surprised to learn that they pay the highest building and contents insurance premiums in the UK, reflecting the higher rebuild cost and the higher cost of living in the capital,” said Quotezone.co.uk founder Greg Wilson.

“But northerners might be a little happier to learn that homeowners in the North East pay an impressive 56% less for their home insurance than someone in London might pay.”

 

Filed in:
News

You might also like...

Share
  • Twitter
  • Facebook
  • Linked in
  • Mail
  • Print

Latest Jobs

Senior Underwriting Risk Manager

London (Central)
£85K-£95K + Benefits
Reference
124386

Reserving Manager (Contract)

London (Central)
£1200 - £1400 per day
Reference
124385

Life Actuary - Contract - IFRS 17 Financial Impact

England, London / England, Bristol / North Yorkshire, England
£900 - £1150 per day
Reference
124384
See all jobs »
 
 

Today's top reads

 
 

Sign up to our newsletter

News, jobs and updates

Sign up

Subscribe to The Actuary

Receive the print edition straight to your door

Subscribe
Spread-iPad-slantB-june.png

Topics

  • Data Science
  • Investment
  • Risk & ERM
  • Pensions
  • Environment
  • Soft skills
  • General Insurance
  • Regulation Standards
  • Health care
  • Technology
  • Reinsurance
  • Global
  • Life insurance
​
FOLLOW US
The Actuary on LinkedIn
@TheActuaryMag on Twitter
Facebook: The Actuary Magazine
CONTACT US
The Actuary
Tel: (+44) 020 7880 6200
​

IFoA

About IFoA
Become an actuary
IFoA Events
About membership

Information

Privacy Policy
Terms & Conditions
Cookie Policy
Think Green

Get in touch

Contact us
Advertise with us
Subscribe to The Actuary Magazine
Contribute

The Actuary Jobs

Actuarial job search
Pensions jobs
General insurance jobs
Solvency II jobs

© 2022 The Actuary. The Actuary is published on behalf of the Institute and Faculty of Actuaries by Redactive Publishing Limited. All rights reserved. Reproduction of any part is not allowed without written permission.

Redactive Media Group Ltd, 71-75 Shelton Street, London WC2H 9JQ