Our Customers Love Us!

Home Insurance

Get a Quote

Get Quote

Home / Property Insurance / Home Insurance / Does Your Postcode Impact Your Building Insurance Premium

Does Your Postcode Impact Your Building Insurance Premium

One of the name of factors in determining the price of UK property insurance for customers in the UK is the postcode in which the property is located. It is so easy for underwriters and insurance companies to analyse risk factors are postcode due to the overwhelming use of computer technology and market databases. Data can be sorted into various risks such as burglary, storm damage, floods and subsistence. It is quite normal now for some insurers to exclude prospective customers from even applying for insurance products based on their post code because statistical analysis are shown but these postcodes will provide a bad risk and hence lose the company money.

Flooding Postcodes - the recent floods in the United Kingdom have clearly shown postcodes where flood plains exist and the enormous damage that has reinforced underwriters attitude towards risk in specific high risk areas. If you live on the edge of the postcode area you may be paying for more than a neighbour that lives in a different postcode just across the road. This may seem somewhat unfair to the lay person, however insurers have to use some form of numerical analysis and dividing lines to mitigate risk. In the UK, there are over two million properties that are situated on the flood plain. Parts of the summer of 2007 caused over two billion pounds worth of damage largely in those areas. It is probable that in the future these areas will face higher insurance premiums. Even though specific property postcodes may not be targeted with price rises, the national scale of the flooding is likely to push up prices generally for everybody in future.

Burglary Postcodes - a recent study by Endsleigh showed that if you live in Nottingham you're more likely to be burgled than other areas in rest of the UK. The least likely area to be burgled is in Guildford in Surrey. This example came form a study that analysed insurance claims from customers during the last four years.

Latest News & Advice

Woodworm Dry Rot

Woodworm Dry Rot

Woodworm, Dry Rot and Wet Rot. One of the most costly maintenance problems for homeowners is woodworm, dry rot and wet rot. If left untreated it can huge amounts of damage to the interior of your home. There are treatments and remedies to prevent it’s spread and to eliminate the problem it becomes critical. Woodworm is most commonly caused by the furniture beetle which leave larvae boreholes inside the major woodwork elements of a property. These area include the roof timbers, joists, staircase and floorboards. Woodworm can also infest ordinary household furniture causing a home insurance claim problem....

Types Door Window Locks

Types Door Window Locks

Types of Door and Window Locks – when purchasing a home insurance policy, you may find that your insurance company want you to have certain security measures in force at your property. These should be studied most carefully as without the correct protection being in force, you may find your cover compromised in the event of a claim. For most people, this involves having good quality door and window locks. Good physical security at your property, will be of a far greater benefit in deterring Theft than having an alarm fitted, but not being a lock expert, have do you discover if you have the correct locks fitted at your home?...

Subsidence Structural Problems

Subsidence Structural Problems

Preventing or Dealing with Subsidence and Structural Problems.Whilst subsidence is usually covered by a building insurance policy, it is definitely something that you do not want to happen at your property if at all possible. Claims for subsidence can be on the large side ( hence the reason for the standard policy excess being £1000) and even if the building is repaired by the insurance company, you may find that’s in the future, insurance is harder to source ( and possibly more expensive) and the market value of the property and it’s marketability may also diminish...

Why choose our specialist insurance cover?

Artboard 2 copy 18

Home Insurance from Assetsure icon-thin-chevron-down

Our Home Buildings Insurance is 5 star rated by Defaqto and you have an option to add Contents and Personal Effects as well.

Artboard 2 copy 20

Legal Assistance as Standard icon-thin-chevron-down

All our policies include Legal assistance as standard up to £50,000 This offer Legal protection for problems relating to employment, contracts, property and personal injury etc.

Artboard 2 copy 21

Home Emergency as Standard icon-thin-chevron-down

All our policies cover Home Emergency as standard up to £500. this offers protection against unexpected events such as the failure of your main heating system, blockage of drains or failure of your domestic gas or electricity supply

Artboard 2 copy 22

£1,000,000 Cover for Buildings icon-thin-chevron-down

We automatically provide you with £1,000,000 cover for rebuilding cost of your property, ideal if you are unsure of your re-building cost.

Artboard 2 copy 17

Excellent service offered icon-thin-chevron-down

We like to offer all our customers a first class service, which is backed up by our Trust pilot ratings. We are open 7 days a week to assist you with your enquiries.

icon-instant_cover

Instant cover and policies icon-thin-chevron-down

Most of our policies you can now buy online and receive instant documentation. Of course, you are more than welcome to call us and we can provide your cover over the phone