UK Money News
1st April 2008
Islington residents pay UK's highest insurance premiums
Residents of the wealthy environs of Islington in north London pay out more for insurance than those of any other area of the UK, a new survey has found.
According to a poll conducted by actuarial consultancy EMB, the average habitué of Islington pays a total of £745 for their car and home insurance.
This compares to an outlay of £345 for residents of sleepy South Cambridge, who enjoy the cheapest premiums for car and home insurance in the country.
The findings might surprise those unfamiliar with the area, which has traditionally been presented as an upmarket area - an image that was exploded recently by statistics showing that car theft and burglary in Islington are 2.5 and three times the national average respectively.
Karl Murphy, a partner at EMB, said: "Insurance premiums are typically higher in cities than rural areas because of the combination of high crime and unemployment rates; about half of a contents premium will be based on the likelihood of theft.
"Quite simply, Islington has a high density of young, unemployed males and it is this section of the population that is most likely to commit crimes against property and motors."
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