Home insurance premiums can vary by almost three times depending on where you live according to new figures. The most expensive postcode, Stanmore in northwest London (HA7) has an average premium of £286.50, compared with just £103.98 in central Bournemouth.
The other most expensive areas were NW11 (Golders Green, £280.59), SE21 (Southwark, £279.07), NW7 (Mill Hill in northwest London, £270.76) and HA6 (Northwood in northwest London, £286.47). Five of the ten most expensive areas where in the Harrow postcode region.
Other areas among the cheapest were YO1 (York, £109.22), G5 (the Gorbals in Glasgow, £110.73), SP9 (Tidworth in Wiltshire, £110.79) and NG1 (Nottingham, £111.87).
The figures come from MoneySupermarket.com and represent the cheapest average quote for each postcode from the insurers it covers. The company noted that what makes an expensive or cheap area is a complicated process: areas at higher risk of burglary may also be areas where the value of homeowner belongings is lower. There's also an effect from the risk of subsidence or flooding in an area.
