New research by comparison site, Go.Compare has revealed which era of homes will attract the highest premiums – and it might not be the decade you expect.
What you may not be surprised to learn is homes built before the 1950s fetch the highest premiums with the average price at £258.
In fact, the data shows, older homes tend to have higher premiums, while newer ones see some of the lowest.
But, despite this, after the pre-1950s properties, the homes with the most expensive premiums were built in the 2000s.
Indeed, properties built in the noughties have a median home insurance price of £229 – the highest of any decade after the 1940s, according to the research.
So why is there an anomaly? Nathan Blackler, home insurance expert at Go.Compare, said it could be because there was a housing shortage in this decade, which might have driven a quantity over quality approach to housebuilding.
“This could have resulted in a wave of homes that are less durable,” he explained, “leading to more claims for properties made in this decade and higher premiums.
“It also could be that the most recent houses are higher cost because they are more likely to be occupied by younger people.
“Younger policyholders can sometimes have higher premiums than older residents as they’re generally less security conscious and less financially secure, among other reasons.
“As a result, this could be pushing up the average for homes built in the 2000s. The 2000s aside, the lower premiums that usually come with new builds could make them a good option for younger residents.”
Which era of homes have the lowest premiums?
Whilst pre-1950s homes and 2000-built properties have the highest premiums, the research also showed a property’s age can impact your premium by an average of £37, although the median cost varied by up to £74 in some instances.
Those built in the 2020s have median policy prices of £184, making them the cheapest of any decade.
Meanwhile, premiums for properties built in the 2010s are similarly low at £199.
Blackler added: “This research shows why it’s really important to check insurance prices before moving or changing your home.
“Comparing policies will allow you to see how changing things might affect your premium, allowing you to take any extra costs into account in your budget.
“You can also try reducing insurance costs by avoiding unnecessary add-ons, improving security and making sure you don’t pay for more cover than needed.”
Average home insurance premiums by decade (Source: Go.Compare)
| Year built | Median price paid |
| Before 1950 | £258 |
| 1950s | £211 |
| 1960s | £211 |
| 1970s | £216 |
| 1980s | £226 |
| 1990s | £224 |
| 2000s | £229 |
| 2010s | £199 |
| 2020s (to date) | £184 |
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