Leitrim homeowners facing steep insurance costs, new analysis shows

Homeowners in Leitrim could end up paying thousands of euros more for insurance over the lifetime of a mortgage, according to new research by Peopl Insurance. The analysis reveals that a “location penalty” of up to 62% can apply to home insurance premiums, with Leitrim among the most expensive counties in Ireland.

Peopl Insurance examined the cost of covering a three-bedroom semi-detached property with a rebuilding value of €400,000 and contents worth €30,000. The findings show that while the annual premium can be as low as €493 in Carlow, it can climb to €800 in Roscommon. Leitrim, along with Sligo and Roscommon, emerged as one of the costliest regions in the country.

“This additional cost will add up over the years,” said Peopl Insurance spokesperson Dominic Lumsden. “Insurers take the address into account when determining the risk profile of a property—and in turn, the premium they will charge.” He noted that, over a typical 35-year mortgage term, location-based pricing differences could reach tens of thousands of euros.

Several factors contribute to higher premiums in certain areas, including the risk of burglaries and flooding, distance from emergency services, and property-related details such as construction type and the likelihood of subsidence. According to Mr. Lumsden, there has been a 9% increase in burglaries nationwide over the past year, based on Central Statistics Office (CSO) data, which could further drive up costs in high-risk areas.

The price gap is also influenced by how affluent or high-value a neighborhood is perceived to be, as well as how quickly emergency teams can respond to incidents. These variables lead to a wide range of quotes for homeowners with similar properties living in different counties—even within certain urban and suburban areas.

As more residents in Leitrim are learning, paying for insurance is typically a mandatory condition of a mortgage. With rising premiums showing no sign of slowing, local homeowners may need to budget carefully to meet escalating coverage costs over the long term.

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