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Home insurance in Wales highest in Cardiff

05/10/05

People living in Cardiff can pay up to double the amount for their contents insurance than those in other Welsh towns, a new survey has found.
 
Research by Confused.com found that homeowners and renters in Cardiff spend an average of £124 a year on insurance. However, those in Carmarthenshire fork out around £77.
 
For buildings insurance, those in Conwy and Monmouthshire are hardest hit with annual insurance bills of £167 but in Rhondda Cynon Taf the price falls to £101, the eighth cheapest in the UK.
 
Kate Armstrong, managing director of Confused.com, said the location of a property could substantially alter the cost of both buildings and home insurance, especially when taking crime levels and flooding or subsidence into account.  
 
"People living in rural areas often benefit from lower premiums as statistically their houses are more likely to be occupied throughout the day, thereby reducing the risk of burglary or damage to your property," she said.
 
"If you live in an area prone to flooding or subsidence this can negatively affect your premium, even if you haven't suffered from either of these yourself," she added. 
 
Ms Armstrong recommends that people living in urban areas which suffer from high crime rates, could join a neighborhood group to reduce the risk of their homes being burgled and therefore cut their insurance costs.
 
She added that insurance costs could change from year to year but that the average price for insurance premiums can usually be beaten, by shopping around for the best deal.