- Heave and subsidence
- Falling trees
How much is home insurance for a newer home?
Average annual cost of home insurance for newer homes*:
Combined home insurance
*Average cost of a house built since 2020. Confused.com data 01/01/2023 to 20/06/2023
It costs £130 to insure a home built after the year 2020, on average. This is cheaper than the average across houses of all ages, which sits at £218*.
There are a few reasons why insurance is cheaper for newer properties:
They tend to be less expensive to repair than older homes, as they’re built with modern building techniques and materials.
They’re newer so they’ve suffered from less wear and tear, and have fewer of the structural issues that can affect older homes.
They tend to be simpler in design, with fewer non-standard features you may find on older homes like thatched rooves or timber frames. These come with added risk, can be expensive to repair and are difficult to maintain.
They tend to be more secure, and are more likely to be fitted with locks meeting the British Standards Institution's latest standards.
*Confused.com data 01/01/2023 to 20/06/2023.
How can I get cheaper home insurance?
Even though home insurance is already relatively cheap for new build houses, there are ways to bring your costs down even further.
- Buy a combined policy
- Change your excess
- Pay annually
- Don’t over insure
- Limit your policy add-ons
Buy a combined policy: If you need both home and contents insurance, getting a combined policy could be a quick way to save. According to our data, buildings insurance costs £87 on average for a new home, and contents insurance costs an average of £61. A combined policy costs an average of £130, which is 14% cheaper than buying 2 separate policies.
Change your excess: This is the amount you agree to pay towards the cost of a claim. Most of our customers choose to pay an excess of £250 - and with good reason. Those paying £250 saved an average of 11% on their home insurance, compared to those who chose to pay no excess*.
Pay annually: Paying for your cover in one lump sum is a quick way to save, as insurers charge more to split your insurance costs into monthly payments. Our data shows that those who paid annually saved an average of 6%* on their insurance, compared to those who paid monthly.
Don’t over insure yourself: Getting the right amount of cover is crucial. Too little and your insurance won’t pay out enough to replace what you’ve lost. Too much and you'll pay more than you need to. The average amount of contents cover our customers get is £51,646**, but this might not be the right amount for you. Use our contents calculator to find out exactly how much cover you need.
Limit your policy add-ons: Things like accidental damage cover can be a good idea if you want to make sure your insurance covers you for all eventualities. But add-ons come at a cost, and choosing extras that you don’t actually need can lead to unnecessarily high costs. Think about what policy extras you need before buying.
*Confused.com data 01/01/2023 to 20/06/2023.
**Confused.com data 25/03/2023 to 20/06/2023.
How much do I need to insure my home for?
Average contents insurance amount taken out:
*Confused.com data 25/03/2023 to 20/06/2023
If you’re looking at buildings insurance
The amount of cover you need is based on the rebuild cost of your home. This is how much it would cost to rebuild your home from scratch. It’s usually less than the value of your home, as what you pay for a house depends on more than just how much it cost to build.
We can help you estimate your rebuild cost when you get a quote.
If you’re looking at contents insurance
You need enough cover to repair or replace all of your possessions. To do this, you’ll need to work out the total value of everything you own. You’ll also want to ensure you don’t get too much cover, otherwise you could be paying for insurance you don’t actually need.
Explore other types of home insurance
get cover for your non-standard home. Protect your belongings against theft, loss and damage.
can protect you and your rental property against unexpected costs, like building or content damage, as well as any disputes.
can offer some protection for your home and belongings if you live in a flood risk area.
Find cover for old listed buildings and new builds alike.
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