'High-risk' home insurance areas identified

Posted : 11-09-2007

Home insurance consumers may be living in locations that result in them having to pay higher insurance premiums, a new study has suggested.

Cover is most expensive in Bacup in Lancashire, Anfield in Liverpool and West Norwood in south-east London and the cost of protecting households in these areas could be as much as three times higher than in other areas of the UK, it is reported.

Areas identified as the cheapest for insurance included Barnstaple in Devon, Meifod in Wales and Stonehaven in Aberdeenshire.

According to a spokesperson for Royal & Sun Alliance, different postcodes can be disadvantageous for different reasons when it comes to home cover - while properties in rural areas may be at greater risk of flooding, those in urban locations may be identified as a crime hotspot.

It was recently reported by Legal & General that determining pensions based on postcode could result in elderly people from more disadvantageous regions of the UK receiving higher pensions.


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