Home insurance customers alerted to new research into relocation factors

Home insurance customers may be interested to know that a third of people in the UK have moved recently in order to find a better quality of life, according to the latest figures.

Research from financial services provider Abbey has found that 18.8 million people moved house in the last five years for precisely this reason, in spite of the costs associated with relocating.

According to its research, 5.3 million people decided to relocate because of criminal activity, meaning they could potentially benefit from cheaper home insurance costs if they resettle in a low-crime area.

Meanwhile, a further 4.5 million said that the main reason they moved was to escape antagonistic neighbours.

Nici Audhlam Gardiner, head of mortgages at the financial services provider, acknowledged that improving the quality of life is an important motivating factor for many homeowners.

People spend a lot of time looking not only for what they want in a home but for what they need in the area they live in, she said.

More often than not, these requirements are for the greater good of the family.

Typically, home insurance companies take into account issues such as the crime rate of a neighbourhood before calculating home insurance premiums.