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Home Insurance

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  • 30-01-2010 7:15pm
    #1
    Walker34
    Registered Users Posts: 425 ✭✭


    Hi,
    Im looking at changing my home insurance provider form Company A to Company B. Iv been with A for 15 years and have never had a claim, but their prices are creeping up consistently. B are an online provider and their quotes are very attractive but their underwriters are not immediately familiar.They are a UK based company, and I only went to the second page of applying online before cooling off and waiting for a day or to to decide. Now I get an email from them suggesting ways to pay, and informing me that they do not require a signature to complete the application process. Should I worry or what?:eek:


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    #2
    tenchi-fan
    Closed Accounts Posts: 3,339 ✭✭✭tenchi-fan


    Company A to Company B?
    You might get more helpful advice if you name the company's involved.
    If you are based in Ireland and the company is operating in Ireland it will be regulated by the financial regulator.

    I got my health cover from quinn and everything was done online - I got my policy schedule in the post and it shows I'm covered so I'm happy enough with that!


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    #3
    Walker34
    Registered Users Posts: 425 ✭✭Walker34


    A is AA and B is 123. wasnt sure if it was kosher to name names. Oh btw....I had an endowment mortgage, complete with ubiquitous shortfall so my confidence in such entities as the FR are in an overflowing bin along with pandemics, wars or a wide variety,processes to beat the band and miracles of all sorts.:-)


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    #4
    Joey the lips
    Registered Users Posts: 10,262 ✭✭✭✭Joey the lips


    I have been with the aa for a while I notice this as well. I also notice when you change there rates seem to drop the following year. However they were the cheapest this year.

    My feelings are go with the cheapest. Read the t&c's and dont forget the new indemnity letter for you mortage provider.


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    #5
    Priapus
    Closed Accounts Posts: 114 ✭✭Priapus


    Walker34 wrote: »
    A is AA and B is 123.

    Just note, that 123 is a broker. You need to make sure you know which insurance company they are providing the quote for. Just something to be aware of in case they are quoting you from a less reputable insurer.


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    #6
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,905 Admin ✭✭✭✭✭Toots


    One piece of advice I'll give you when buying home insurance products, if you're shopping around for prices, make sure the products you're comparing are like for like. The cheaper one may have far fewer extras than the dearer one, so you'll need to weigh up which features you need and find products that offer them.


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    #7
    Walker34
    Registered Users Posts: 425 ✭✭Walker34


    Thanks for the replies folks:

    Are they all not brokers really in that they just pass on the risk to big underwriters like AXA,and Lloyds, and the AA and 123 just handle the sales and marketing? 123 use Travlers Insurance which I never heard of before. Obviously I know little about he structures of the Insurance industry, but just gleaned what little knowledge I do have from occasional one liner comments. That was never more apparent than when I went to en-cash my endowment policy.:-)


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    #8
    oldyouth
    Closed Accounts Posts: 4,754 ✭✭✭oldyouth


    Walker34 wrote: »
    Now I get an email from them suggesting ways to pay, and informing me that they do not require a signature to complete the application process. Should I worry or what?:eek:
    If you decide to proceed, they should send you a statement of fact. Many insurers use these instead of proposal forms these days. Basically, it is a page of assumptions on which they have based their quote (no previous claims, not in a flood area, smoke detectors etc) and if you accept it as accurate, it forms the basis of the contract. If the true circumstances vary from this document, it is up to you to contact them to rectify


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    #9
    Rabidlamb
    Banned (with Prison Access) Posts: 2,202 ✭✭✭Rabidlamb


    Last few years I've found http://getcover.com to be the best for my needs.

    Underwritten by Lloyds bank plus my neighbour claimed with them & found them easy to deal with.
    I'm paying €250 for an average 4 bed semi on South Kildare.
    €180k rebuilding cost.
    30% contents insurance.
    €6k wife's engagement ring.
    Accidental damage covered.
    €500 min excess.

    123.ie came at €310 for the same level of cover.


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    #10
    Walker34
    Registered Users Posts: 425 ✭✭Walker34


    HI,
    I took a look at getcover.com and their price was attractive, only problem is they never asked for a rebuild cost, which I found strange. Do they just insure contents or how do thy price rebuild cost. My house is pre 1900 anyways, so they might not cover as per their conditions.


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    #11
    oldyouth
    Closed Accounts Posts: 4,754 ✭✭✭oldyouth


    Walker34 wrote: »
    HI,
    I took a look at getcover.com and their price was attractive, only problem is they never asked for a rebuild cost, which I found strange. Do they just insure contents or how do thy price rebuild cost. My house is pre 1900 anyways, so they might not cover as per their conditions.
    They ask you for the Buildings sum insured that you wish to insure as a rebuild cost. It is up to you to ensure you have an appropriate figure


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    #12
    Walker34
    Registered Users Posts: 425 ✭✭Walker34


    Hi,
    thanks for the info folks,unfortunately getcover.com was not an option because the house is pre 1900. I went with an Irish company and they were quite keen, saving me almost €150 for the same cover. Now on to life insurance, any suggestions????


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    #13
    Domahony
    Registered Users Posts: 10 ✭Domahony


    I'm looking to get insurance for my home built in 1840. I'm mainly interested in buildings cover - with minimal contents.
    All the online companies won't quote for anything pre 1900. The only quote I got was from FBD and it came to about 2x or 3x what I think is reasonable. I tried a broker and he came back with just one quote an I suspect he was getting it from FBD.

    Does anyone know which companies in Dublin will quote for this.

    I'm in a Dublin suburb surrounded by houses of the same period and I can't believe everyone is paying over the odds with this one company.


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