Home insurance costs in Scotland rise by 24%
According to new research from comparison site MoneySuperMarket which analysed more than seven years of data and millions of home insurance customer quotes, Glasgow has the highest (£150) combined building and content home insurance in Scotland.
However, in terms of percentage increase in cost from 2019 to 2020, Paisley and Falkirk have shown the biggest rise, with 5.76% and 5.42% respectively.
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Hide AdScotland has the fifth highest home insurance in the UK, with residents paying 2.28% less than the national average.
Not surprisingly, London remains top of the table on price with people there paying nearly £60 more than the national average of £144.
Location – Home insurance cost Q1 2019 – Home insurance cost Q1 2020 – % increase
Paisley – £139.53 – £147.57 – 5.76%
Falkirk – £136.525 – £143.93 – 5.42%
Perth – £137.36 – £142.87 – 4.01%
Inverness – £129.73 – £134.16 – 3.41%
Kilmarnock and Ayr – £134.14 – £137.59 – 2.57%
Galashiels – £123.925 – £126.85 – 2.36%
Dundee – £123.20 – £125.83 – 2.13%
Aberdeen – £128.79 – £131.22 – 1.89%
Motherwell – £136.275 – £138.825 – 1.87%
Edinburgh – £144.48 – £147.17 – 1.86%
Kirkcaldy – £125.755 – £127.975 – 1.77%
Glasgow – £147.89 – £150.115 – 1.50%
Dumfries and Galloway – £123.31 – £123.995 – 0.56%
Kate Devine, head of home insurance at MoneySuperMarket, said: “Home insurance quotes vary across the country thanks to a number of factors, including the risk of flooding, crime rates and even the type of soil.
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Hide Ad“While there is a general trend of home insurance costs rising around the country, the good news is that the year-on-year increase is slowing. In 2017 there was a 14.35% increase, followed by 8.5% in 2018. With 2019 seeing only a 2.58% rise, this is good news for consumers.
“The best way to ensure home insurance costs are kept manageable is to shop around and make sure that you’re on the best deal for you.”
To find out more and to discover how home insurance costs have changed in your area, visit the MoneySuperMarket website at: www.moneysupermarket.com/home-insurance/price-comparison-index