Homeowners in properties that have previously flooded are paying 121% more for home insurance than the UK average, according to new research from Compare the Market.
The price comparison site said the average annual premium for a home that has previously flooded stood at £437 in January 2026, compared with a UK average of £198. That leaves homeowners facing an average difference of £239.
Properties located near water also attract higher premiums, although the gap is far narrower. Compare the Market found that owners of homes near water pay £210 on average, which is £12 more than the UK average.
Among previously flooded homes, the highest average premiums were recorded in Northern Ireland at £754, followed by Greater London at £669, the South East at £507, the East Midlands at £473 and East Anglia at £446.
For homes near water, Northern Ireland again had the highest average premium at £557. Greater London followed at £314, ahead of the South East at £242, East Anglia at £239 and Scotland at £219.
The figures come against a backdrop of growing flood risk across the UK. Compare the Market said around 6.3 million homes and businesses in England are currently at risk of flooding, with that figure expected to rise to eight million by 2050 because of climate change.
In Scotland, around 320,000 residential properties are estimated to be at medium risk of flooding, with that number expected to increase to 522,000 by 2100. The company also pointed to around 85,500 homes and commercial properties at risk in Northern Ireland and nearly 300,000 residential properties in Wales.
Despite the higher premiums, the research suggests costs have been easing. The average cost of insuring a home that has previously flooded fell by 11% year on year in January 2026 from £495 in January 2025, while premiums for homes near water dropped by 10% from £235.
Amy Rootham, home insurance specialist at Compare the Market, said: “Our research shows that people living in properties that have previously flooded are paying more than double the UK average for their home insurance, with a difference of £239.
“Even living near water can push premiums up ever so slightly, so you should always shop around and compare policies as this can help ensure you’re getting the right level of cover at a price that’s right for you.”
She added: “With millions of homes across the UK already at risk – and climate change expected to increase that number significantly in the coming decades – it’s becoming increasingly important for homeowners to understand their property’s flood risk and consider taking steps to improve resilience where possible.”
