Home Insurance - the Price of Your Postcode

By: Andy Adams

These days we've got quite a treasure trove of goods in our homes, many having all manner of gadgets we couldn't possibly live without (I'm thinking mobile phones and computers or your record collection). If there were to be some accident or theft then we'd be devastated, this is why more and more people are opting for home insurance.

This is no case of being over-cautious either with the freak earthquake hitting most of England and Wales last week there were plenty of reports of chimney stacks falling down with one case in Rotherham, South Yorkshire where a teenager's roof collapsed on him resulting in needing to go to hospital with a fractured hip. This as well as the floods becoming more and more prevalent in this country goes to show that home insurance is more vital now than ever.

The trouble is that if you live in places which are prone to accidents like the flooding last year then chances are your home insurance quotes may be significantly higher and possibly price you out of being able to afford home insurance.

It isn't just weather conditions and acts of god that are making home insurance pricey. It is well known that home insurance quotes, much like car insurance quotes vary depending on where you live.

Some call it a postcode lottery; where depending on your postcode will directly affect your home insurance quotes. For a long time it was believed that crime rates in your area would ramp the cost up as this is one of the main causes for house insurance companies to pay out but with all the weather and flood related problems arising up and down the country insurers are rethinking which areas now present the most risk. Some houses in a crime ridden neighbourhood may now have similarly priced quotes to a country cottage that is situated on the banks of a river.

It is a growing trend for people like new couples or new home owners to scout their new homes ahead of buying as they may be walking into an insurance nightmare, people have fell victim to this and discovered that home insurance quotes at their new home were astronomical.

The good thing is that some consumer websites have conducted research into the area in hope of getting the information to buyers before they move. Some websites will even allow you to draw upon this research and check out whether you're paying more on home insurance based on where you live. One thing to remember though is that while Home Insurance isn't a requirement it is definitely a necessity in this modern world and with occurrences like earthquakes and floods headed to the UK now may be the time to get yourself covered and safe.

Home Security
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