It's very hard to tell what's a standard bungalow though, do you mean one of the old style 1,340 sq feet grant size or a much newer 2,000+ model.
Anyways my house insurance for a fairly standard extended grant bungalow of 2,500 sq ft was around 500, did some shopping around lately for another family member with much smaller typical grant size unextended far more basic bungalow and quote from same insurer as I got came in at nearly 1,000. Rebuild cost was much lower due to size and in one of the cheapest midland areas of the country but while their house is on high ground it near a town which has a river through it and parts of the local town have flooded in the past. Obviously this is skewing the whole costings for the area, now while it's just impossible for their house or anywhere even close to it to flood it still seems to affect it. I did eventually get it with another insurer for nearer to 600 which is still more expensive than mine which has higher cover. So it's not a level playing field at all, address really matters!
Definitely go for a big excess and no frills on the insurance, the days of putting in a claim for small things are gone as it's not worth it in terms of loadings and being unable to switch.