Scotland is not at high risk from floods. Although there were some floods in Edinburgh, Paisley and Perth, it remains low risk in Scotland compared to England. Insurance companies had to foot a £1.3bn bill last year from floods, and to claw back their losses, they have raised premiums across the board.

According to Esure, another problem is the way that insurers have used a broad-brushed approach to rating areas of Scotland. So, rather than using full postcodes to set premiums, they are setting similar rates for large areas, for instance the whole of Glasgow. This means that in areas where there is an enormous amount of variety in terms of risk, like Glasgow, people who live in low risk areas are funding insurance for those in high risk areas. This doesn’t happen in London.

Further research by HSBC bank suggests that Scottish people make great neighbours, and this goes as far as helping each other lower their home insurance premiums. If you know your neighbours well enough to ask them to keep an eye on your house when you go away you are less likely to come back to a break-in but you will find it easier to save money when it comes to renewing your household cover.

According to HSBS, 90% of people in Scotland know their neighbours well, as opposed to less than 80% in England. Neighbourhood watch schemes have always been found to be a very effective crime deterrent, which is why your insurance company will ask you if you a member of one. On the negative side, the Association of British Insurers say that storm damage and the freezing temperatures that often occur in Winter have caused claims relating to burst pipes increase, and these can be costly to put right.