We studied insurance prices across the 33 London boroughs to understand how the cost of contents insurance varies depending on where you live. The data showed the average of the cheapest contents insurance quotes was £153 per year for renters in London, but discounts for certain areas meant some renters would pay closer to £92 for a cheap contents insurance policy in London.
- Which Contents Insurance Companies are Cheapest in London?
- Cheap Contents Insurance Companies by London Borough
- Average Cost of Cheap London Contents Insurance by Borough
Overall, we found that Swiftcover Made and AXA-HomeSmart were the cheapest contents insurance plans, but they were not the cheapest in all London boroughs. Consequently, London renters should be sure to compare prices before renewing or buying a contents insurance policy. Click on the button above to start shopping for cheap contents insurance in your area.
Cheap Renters Contents Insurance Companies in London
To see which contents insurance companies provide good deals on contents insurance for London renters, we gathered quotes from 27 insurance companies across the 33 London boroughs for a 2-bed property. We then ranked the insurance companies based on their average prices across London. According to our study, here are the five contents insurance companies with the best prices in London.
How much is renters insurance in London? The average cost of contents insurance for London renters is £153 per year. By comparing prices, you can usually find a better deal. The data show that Swiftcover Made and AXA HomeSmart tied for the cheapest car insurance plans in London with average rates across all boroughs of £74 per year. In fact, by purchasing any of the ten cheapest plans on offer, renters save around 45% versus average quotes, so it definitely pays to shop around for cover. Learn more about the cost of contents insurance across the UK here.
|Rank||Contents Insurance Company||Average Cost of Contents Insurance across London|
|14||Together Mutual Insurance||£122|
Cheap Renters Contents Insurance Companies in each London Borough
The borough in which you reside can drastically affect the cost of contents insurance. As insurance companies price policies based on their claims experience with certain profiles, different areas of London cost more or less to insure. To show how cheap contents insurance companies change by borough, we gathered contents insurance quotes for renters in each of the 33 London boroughs. Here were the cheapest three contents insurance companies for each London borough, listed in alphabetical order:
|London Borough||Insurance Company||Cheapest Quotes|
|Barking and Dagenham||AXA-HomeSmart||£93|
|City of London||AXA-HomeSmart||£62|
|City of Westminster||RCIB||£90|
|Hammersmith and Fulham||AXA-HomeSmart||£72|
|Kensington and Chelsea||AXA-HomeSmart||£81|
Average Cost of Cheap Renters Contents Insurance in London
Renters in London can find a cheap contents insurance policy for an average cost of £92 per year (the average of the ten cheapest quotes in each borough). However, prices vary significantly depending on where you live within the capital. Residents of Sutton (one of the cheapest areas to live in London) and Kingston, where our sample renter was quoted around £75 per year, typically pay the least for contents insurance. On the other hand, those living in Haringey, Newham and Brent are more likely to pay around £110 annually for even the cheapest contents insurance policy.
|Rank||London Borough||Average of Cheapest 10 Quotes||Average Excess|
|3||City of London||£80||£350|
|24||Hammersmith and Fulham||£100||£340|
|26||Kensington and Chelsea||£101||£345|
|27||City of Westminster||£101||£340|
|29||Barking and Dagenham||£103||£345|
In order to determine what a typical London tenant will typically pay for contents insurance and to identify the cheapest contents insurance companies, we tested prices for £50,000 of contents cover with Accidental Damage cover and a £250 voluntary excess for a furnished, 2-bed converted flat in each of the 33 London boroughs. Altogether we collected over 1,000 quotes from the following 27 insurance companies:
- Acorn Insurance
- BG Insurance
- Fresh insurance
- Get Cover
- Grove And Dean
- Hastings Direct
- Insure Wiser
- Intelligent Insurance
- Magnet Insurance
- Nova Insurance
- now4cover household
- One Call
- Performance Direct
- Quote Your Home
- Quoteline Direct
- Swiftcover Made
- Together Mutual Insurance
To get started shopping for contents insurance for your rented property in London, click the button below to get quick quotes from up to 43 insurance companies in your area.