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Average home insurance costs in Northern Ireland

01/04/2024

What is the average cost of home insurance in NI?

The average home insurance cost in Northern Ireland is just over £480 in 2024.

The exact average cost of £487.89 has increased by £167 in the past year alone. And this is almost 62% higher than the average cost in England, which is currently only £185.88*. So why is home insurance so expensive in Northern Ireland?

What our experts say

“Inflation is most likely responsible for the recent rise in home insurance premiums across Northern Ireland. Not only has inflation led to a rise in the cost of repairs, labour and materials but there has also been a reduction in the number of insurance providers that cater to Northern Ireland as rising costs have made it challenging for some smaller insurance businesses to remain open.”

Ian Wilson, Managing Director of CompareNI.com

Average home insurance costs across regions in Northern Ireland 

At CompareNI.com, we’ve done the research to give you a breakdown of the average home insurance cost for each NI region. These prices are based on the annual costs of home insurance for a three bedroom property in Northern Ireland.

Knowing the cost of home insurance in your area can help you make informed insurance decisions. With these as a guide, you can consider the possibility that you might be overpaying for your home insurance. 

If you have simply renewed your existing home insurance over the past few years, now could be the time to shop around and switch. You could save up to £222** on your home insurance when you get quotes at CompareNI.com. We help you quickly compare options from up to 30 home insurance providers in minutes.

Average home insurance costs in NI regions 2023-2024

Home insurance price increase (%) in NI regions 2023-2024
Home Insurance – by NI RegionQ3 2023 Average PremiumQ3 2024 Average PremiumAnnual Price Increase (%)
Newry, Mourne and Down£390.77£616.5858%
Derry City and Strabane£370.72£589.0459%
Mid Ulster£337.17£516.7665%
Fermanagh and Omagh£331.82£546.9886%
Armagh, Banbridge and Craigavon£326.93£485.4048%
Belfast City Council£337.17£431.3581%
Causeway Coast and Glens£329.24£491.1449%
Antrim and Newtownabbey£301.65£431.8943%
Lisburn and Castlereagh£304.45£484.8459%
Ards and North Down£283.37£421.1049%
Mid and East Antrim£301.04£420.2640%
Average home insurance cost NI£320.10£487.8952%
CompareNI.com home insurance data – the sample used 100,000 home insurance policies from Q3 2023 – Q3 2024, based on an average three-bedroom property.

Cost of NI car insurance compared to other UK regions

With the average annual increase in NI home insurnace costs up 52%, you would expect the same trend across the rest of the UK, but this isn’t the case. Northern Ireland home insurnace premiums have climbed 25% higher than those in Scotland, 20% more than wales, and incredibly, 23% higher than London, an area with notoriously high insurance costs across the board.

UK Region2023 Q3 Average Price2024 Q3 Average PriceAnnual Price Increase (%)
Northern Ireland£320.10£487.8952%
Wales£142.22£187.1332%
West Midlands£136.66£178.1030%
South East England£164.96£212.8029%
London£229.16£295.2329%
North West England£147.50£187.7827%
Scotland£157.98£200.3627%
East Midlands£143.97£179.9625%
Yorkshire£150.72£187.7525%
South West England£144.48£178.9924%
North East England£136.48£166.6322%
East of England£168.01£200.8920%
CompareNI.com home insurance data – the sample used 100,000 home insurance policies from Q3 2023 – Q3 2024, based on an average three-bedroom property.