Homeowners could be paying as much as €10,000 more for their home insurance over the lifetime of their mortgage because of where they live, according to Peopl Insurance.
The cost comparison analysis by the insurance firm examined the cost of home insurance for a first-time buyer of a three-bedroom semi-detached home with a rebuilding cost of €400,000 and contents worth €30,000 – across various addresses throughout the country.
The analysis discovered that there can be a 62% difference per year to insure the same property in the cheapest and most expensive areas.
Dominic Lumsden, spokesperson for Peopl Insurance, said the location of a property has a…