Tuesday, 5 May 2020

Home insurance in Bolton up by a fifth from three years ago | The Bolton News



Home insurance in Bolton up by a fifth from three years ago

HOME insurance prices in Bolton have risen by a fifth over the last three years.
New research from MoneySuperMarket, the UK’s leading price comparison website, has shown that the average price of combined contents and buildings insurance has risen by £23.03 in the borough.
On average, the protection will set you back just under £134 a year, costing £5 a year more than premiums in nearby Blackburn and Wigan.
Kate Devine, head of home insurance at the firm behind the stats, said: “Home insurance quotes vary across the country thanks to a number of factors, including the risk of flooding, crime rates and even the type of soil.


“For those in the North West, the rise in home insurance costs will undoubtedly impact financial management for the upcoming year.
“While there is a general trend of home insurance costs rising around the country, the good news is that the year-on-year increase is slowing. In 2017 there was a 14.35 per cent increase, followed by 8.5 per cent in 2018, with 2019 seeing only a 2.58 per cent rise – good news for consumers.
“The best way to ensure home insurance costs are kept manageable is to shop around and make sure that you’re on the best deal for you.”
The North West has the fifth lowest home insurance cost in the UK, with residents paying eight per cent less on average of £144, whist people living in London can expect to pay around £204 for the same cover.
To find out more and to discover how home insurance costs have changed in your area, visit moneysupermarket.com/home-insurance/price-comparison-index/.
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