Compare home insurance quotes

The average cost of home insurance in the UK varies depending on your location, type of house, and the amount that you need to insure.

How much home insurance costs also depends on the value of your possessions, but generally speaking, the cost of home contents insurance is around £114 a year falling by 11% since 2021 (according to ABI figures for 2022).

While buildings insurance premiums are an average £225. The average price for combined buildings and contents insurance is just over £307 - down by 2%, according to the figures from the Association of British Insurers.

Some insurance companies offer a discount if you buy buildings insurance and home contents insurance together, but it's also worth getting separate quotes as this may work out cheaper.

If you're thinking of moving, check the area to make sure there is a low flood risk at the Environment Agency's website.

You also need to think about getting buildings insurance when you're in the process of buying a new house. To be safe, it's a good idea to have buildings insurance from the point at which you exchange contracts.

You will need home contents insurance from the point at which you complete the house purchase and receive the keys to your new home.

Home insurance is a relatively simple product, but you do need to look out for exclusions – these are events or occurrences that your insurance will not cover. For example, if you live near a river, you may not be able to get insurance cover for flood damage.

Your home insurance policy costs will also be affected by the value of your home or the contents within it, the location, the cost of rebuild, and whether you have had any previous claims. Your premium will also be affected by whether you are prepared to accept a large excess, which is the share of the cost you pay before you receive insurance compensation.