House insurance costs fall across NMD

Home insurance in Newry, Mourne and Down fell by 19% on average last quarter, from £819 to £666 - that’s the biggest drop anywhere in Northern Ireland.

However, the district is still by far the most expensive in NI, and local households are paying more than three and a half times the UK average of £185.

Northern Ireland households continue to pay the highest home insurance premiums in the UK, despite prices falling faster than anywhere else, according to new data.

Research from home insurance experts CompareNI.com shows the average annual premium in Northern Ireland is now £455. That is 78% more than homeowners in London are paying - the second most expensive region at an average of £256.

Premiums here dropped by 5% in Q3 2026 (down £24 since last quarter), the biggest fall of any UK region. The East of England saw the next largest decrease at 3.4%, while London’s premiums fell by just 1.9%.

Despite falling faster, premiums in Northern Ireland are still more than twice the UK average of £185, and over three times higher than the North East of England, the cheapest region at £134.

The higher home insurance prices in NI compared to Great Britain are partly due to a combination of risk and market issues. Building repairs here tend to be more expensive because of labour shortages and material costs, and there are fewer providers than across the water, potentially making costs less competitive.**

Households in NI are still feeling the effects of the price surge of recent years. Today’s average premium remains £135 (42%) higher than in Q3 2023, when it was £320.

Premiums rocketed by more than half (52%) in the following 12 months, reaching £487 by Q3 2024. Prices remained high in 2025, hitting £504 in Q2 of that year.

This jump in prices was driven by a combination of surging repair costs, rising claims payouts and extreme weather events.

Prices dropped across every NI district this quarter. The gulf between the highest and lowest-priced areas has narrowed, down from over £400 last quarter to around £270.

Newry, Mourne and Down saw the biggest fall, with average prices down 19% from £819 to £666. However, it remains by far the most expensive district in Northern Ireland, due in part to the severe flooding that hit the south-east in autumn 2023, causing an estimated £40 million worth of damage.*

Households in that district continue to be severely impacted by the event, with premiums there still 70% higher than this time three years ago.

Lisburn and Castlereagh now has the lowest average premiums in NI, after a 10% quarterly fall to £394. It replaces Ards and North Down as the cheapest district, which saw the smallest reduction overall, down 2%.