The cost of insuring your home has surged 32 percent on last year on the back of rising claims made to cover the cost of storms and flooding.
The average price of combined home insurance is now £241, which is up by 32 percent – £59 – on last year and 55 percent over two years, according to Go.Compare’s latest Home Insurance Index.
The new data also revealed variations in home insurance prices across the UK, with home insurance in the most expensive region costing more than double that of other areas.
Northern Ireland has the highest prices on average for combined home insurance at a cost of £416, followed by Greater London at £351.
By contrast, the cheapest place to insure a property is the North East of England at £206, which is less than half the figure in Northern Ireland.
Go.Compare said the rising number of claims linked to storm damage is largely to blame, as well as increases in the cost of materials and the pay of workmen.
There were just four storms recorded in Britain between July 2022 and June 2023. By contrast there have already been 11 storms recorded in the current…
