The average premium in Northern Ireland now costs just over £410, according to recent data from CompareNI.com . In comparison, the average home insurance cost in the UK is £185.
The figures – based on 100,000 home insurance policies on an average three-bedroom property – also show how much the average home insurance premiums have risen in Northern Ireland’s 11 local council areas. Advertisement Advertisement Did you know with an ad-lite subscription to NorthernIrelandWorld, you get 70% fewer ads while viewing the news that matters to you. The highest cost on average for home insurance was in Newry , Mourne and Down with an average cost of £526, up 115% from the same time last year.
Derry City and Strabane had the second highest home insurance premiums with an average cost of £456 up 89% in the last year. The third highest was Mid Ulster with an average cost of £431, followed by Fermanagh and Omagh (£429), Armagh, Banbridge and Craigavon (£418), Belfast (£413), Causeway Coast and Glens (£404) and Antrim and Newtownabbey (£378). Other council areas saw a lower rate of home insurance premiums with Mid and East Antrim having the lowest at £360, however this is still a 72% increase from the same period last year.
Advertisement Advertisement Similarly, Ards and North Down were the second lowest at £364 with a 71% increase and Lisburn and Castlereagh were the third lowest at £376 with a 77% increase in the last year. Ian Wilson, managing director of CompareNI.com .
