The cost of the premiums on your UK home insurance is affected by many factors. Ultimately, the cost of the policy will depend on how these factors are applied to your particular circumstances. Should you live in a secure area, which is of low risk to the insurer, you are likely to have a cheaper home insurance policy than someone living in a more risky area. However, there are other issues at play here, and your premium will not be calculated until they are taken into account.

Firstly, like most insurance policies, you need to specify the level of cover you require. How much do you want to insure your property for? This amount will make quite a large difference to the size of your premiums, as this quantifies the insurer’s risk.

The next item affecting your premium is the area and size of your home plus all additional structures to be covered. This, when multiplied by the rebuilding costs per square foot in the area in which the property is situated, will tell the insurer the rebuilding costs of your property.

Your home should be made out of bricks, concrete or stone and the roof out of slate, tile or concrete, with the smallest amount possible of flat roof area. If any of these are not regular, then your premiums will rise.

The area you live in will contribute certain factors to the cost of your home insurance. Obviously, the crime rate of your area will determine the risk the insurers are taking on. But also there is the likelihood of natural disasters. Is there a likelihood of a flood in the area, or is the area prone to subsidence or slippage. If there is, the insurance company’s risk goes up, and so do your costs.

Another factor will be how near your home is to the emergency services, such as fire stations, for obvious reasons. It will also help if you are a member of a neighbourhood watch scheme.

As for your property, the level of security of your house is a factor, along with the condition of the plumbing, heating and electrics.

Your age is taken into account, with customers over 50 benefiting from discounts. Also, you can decrease your premiums by paying a higher excess, but increase it should you choose optional extras on your policies, or choose extended cover.

Ultimately, you can take certain measures in order to cheapen your home insurance. Most involve thinking logically and using your head. Any time you take a measure to make you a candidate with lower risk, tell your insurance company. You could get a discount, there is never any harm in asking!