In the past year, Northern Ireland's home insurance costs have almost doubled, according to CompareNI.com.

The current average premium stands just over £410 in contrast to the UK's average of £185.

Figures indicate a significant rise in home insurance premiums countrywide.

Newry, Mourne and Down topped the highest costs chart with an average of £526, leaping 115 per cent compared to this time last year.

Derry City and Strabane followed, with premiums averaging £456, a surge of 89 per cent over the last year.

Third was Mid Ulster, with an average cost of £431.

Fermanagh and Omagh (£429), Armagh, Banbridge and Craigavon (£418), Belfast (£413), Causeway Coast and Glens (£404), and Antrim and Newtownabbey (£378) trailed closely behind.

However, some council areas recorded lower rates of home insurance premiums.

Mid and East Antrim had the lowest at £360, despite a shocking 72 per cent increase. Ards and North Down had the second lowest at £364, marking a 71 per cent increase. Lisburn and Castlereagh were the third lowest at £376, with a staggering rise of 77 per cent this year.

Ian Wilson, managing director of CompareNI.com said: "Inflation is most likely responsible for the recent rise in home insurance premiums across Northern Ireland. Not only has inflation led to a rise in the cost of repairs, labour and materials but there has also been a reduction in the number of insurance providers that cater to Northern Ireland as rising costs have made it challenging for some smaller insurance businesses to remain open.

"Nobody wants to pay more than they should for home insurance, especially during the current cost-of-living crisis. To make sure this doesn’t happen, it’s important that consumers shop around when it comes to home insurance, comparing different products and prices and making sure they have adequate coverage.

"There are now a number of products that have entered the market to help people cope with the rising costs, giving them a more basic product for less. Homeowners need to be careful when purchasing these policies and make sure these basic policies cover everything, they need them to."