Home insurance: what's happening to prices where YOU live?

The typical cost of home insurance has fallen by 5.4% since last autumn, according to the ...

The typical cost of home insurance has fallen by 5.4% since last autumn, according to the MoneySupermarket home insurance monitor.

And for some people, premiums have plunged by a lot more than that.

In certain parts of the country, households can expect to pay a massive 11% less for their home cover now than they did this time last year.

But despite the average annual premium dropping to just £146, our analysis of more than 3.3 million quotes indicates that not all Britons will pay less to insure their homes this year.

For those living in 10 different UK postcodes, nine of which are in Greater London, premiums have actually risen by up to 10%.

Hannah Jones, home insurance expert at MoneySupermarket, said: "Although the overall picture shows the cost of home insurance coming down, some households have seen quite substantial increases."

Reasons for this include the affluence of the areas involved - properties in wealthier areas tend to be worth more and have house contents of greater value - as well as insurers deciding they are at greater risk of crime or flooding. 

Here, we take an in-depth look at the figures to find out how this home insurance postcode lottery affects you.

What's happening in my area?

The MoneySupermarket figures show that, over the 12 months to August 31, 2012, combined buildings and contents insurance premiums fell by an average of 8.4%, while stand-alone contents insurance premiums dropped 14.8% and stand-alone buildings cover slipped 2.6%.

Top ten postcodes with the largest DECREASES to the cost of home insurance:

Residents of the Scottish border town of Galashiels benefited the most, with an incredible 11.5% drop. 

They are not the only ones able to take advantage of a larger-than-average decrease, though.

People living in Sunderland, Kirkcaldy, Worcester and Blackpool should all be able to get home insurance 11% more cheaply now than they could last autumn.

And those with homes in Lancaster, Newcastle upon Tyne, Stoke-on-Trent, Dudley and Norwich can all look forward to paying between £12 and £15 less a year for cover when they come to renew their policies after shopping around for the cheapest deal.

For Londoners, however, it is a very different story. Those with postcodes starting EC - most of which are based in the City of London - can expect to pay 10.1%, or around £15, more for their home insurance.

The ten postcodes registering an INCREASE to the cost of home insurance: