Scottish home insurance premiums defy Brexit bite

Analysing Scottish home insurance data from Q1 2013 to Q3 2017, the price comparison site shows that Scots are enjoying a period of historically low premiums.

Excluding the latest quarter in 2017, which saw a modest rise of 1.2%, research on buildings, contents and combined insurance has shown a year-on-year decrease in the average cost of the coverage, with only 2017 showing a marginal rise in price:

2013 - £103.97

2014 - £95.79

2015 - £90.04

2016 - £81.56

2017 - £82.12

If a Scottish homeowner is looking for just buildings, contents or combined cover, the latest data shows:

Year Buildings Median Cheapest Contents Median Cheapest Combined Median Cheapest 2013 £96.64 £68.49 £146.77 2014 £88.47 £64.02 £138.49 2015 £86.29 £59.80 £126.76 2016 £80.28 £49.30 £115.11 2017 £81.02 £50.03 £115.30

As is the case with buildings and contents coverage, the median cheapest cost for combined coverage has lowered – starting at an average of £146.77 in 2013 and ending at £115.30 in 2017.

This is a drop of £31.47, which is 21% cheaper than the starting rate in 2013.

Though there has been a very slight increase between 2016 and 2017, it is to the tune of £0.19p, representing very good value for homeowners.