Home Insurance

Jellybaby1

Every year I ring car insurance companies and generally get around the same quotes, I am wondering would it be the same with home insurance for buildings and/or contents? Is there money to be saved at all?

coylemj

In the case of home insurance, do not call them, do it online. Just make sure that you understand the terms and conditions and give truthful answers to all the questions - don't assume you'll get the benefit of the doubt if there's an ambiguity.

Jellybaby1

Cheaper online?

coylemj

Jellybaby1 wrote: »

Cheaper online?

In my recent experience, yes.

Jellybaby1

Thanks for the advice.

oldyouth

Lots of differences online with regard to policy excess, particularly for Water Damage claims (which are the most likely).

Jellybaby1

Had a water leak/damage problem a while back, insurance paid to fix the leak but not to fix the actual damage done by the water. I never knew that before.

oldyouth

Jellybaby1 wrote: »

Had a water leak/damage problem a while back, insurance paid to fix the leak but not to fix the actual damage done by the water. I never knew that before.

It should be the other way around

coylemj

oldyouth wrote: »

It should be the other way around

I would have said neither, unless it was a specific 'event' like a severe frost.

For example, FBD will not pay for the following....

• Loss or damage to any part or appliance from which the water leaked caused by wear, tear or gradual deterioration.
• Loss or damage caused by water leaking from shower units and baths through defective seals and grouting

And I can't see how any insurance company would pay to fix the leak itself.

oldyouth

coylemj wrote: »

I would have said neither, unless it was a specific 'event' like a severe frost.

For example, FBD will not pay for the following....

• Loss or damage to any part or appliance from which the water leaked caused by wear, tear or gradual deterioration.
• Loss or damage caused by water leaking from shower units and baths through defective seals and grouting

And I can't see how any insurance company would pay to fix the leak itself.

The 1st instance excludes cover to the part or appliance, not the consequences of the escape
The 2nd example excludes damage as a consequence of gradually operating cause from 2 specific items (shower & bath). Even then, it allows for damage as a consequence of a leaking pipe attached to baths and showers

coylemj

FBD also has this exclusion...

This Policy does not cover:

(i) Wear, tear, rust or corrosion; gradual deterioration or any gradually operating cause, including damage caused by gradual water damage or from faulty seals or grouting

In general, insurance companies don't cover things that are as a result of gradual wear and tear, that's why I posted earlier that leaks are normally only covered if the pipes burst as a result of a specific event like a severe frost, not if a join in the pipes simply corrodes and starts to leak which would fall under gradual wear and tear.

chrysagon

Jellybaby1 wrote: »

Had a water leak/damage problem a while back, insurance paid to fix the leak but not to fix the actual damage done by the water. I never knew that before.

I had a leak/damage before, alot of damage due to frost done,was at work when it happened, the insurance company paid for the lot, my excess was 300 euros, but the bill eventually ran into thousands, including painting etc.. i was treated very well to be fair, but gradual wear and tear doesnt be covered usually.

pawrick

Recently had to price around for home insurance on my mother's home. Got approx. 30% better quote through a broker on the same policy compared to renewing directly with the insurance company. Insurance company offered to lower it's price to match but switched to the broker as they were taking the p*ss with the renewal quote hoping we wouldn't price around.

Doing the same for my own place soon but already have a quote of around 120 less than the renewal notice I received. The same story again.

Have found online quotes to be far in excess to what I have been quoted by phone but they are good starting points to work down from.

Jellybaby1

Sounds like the insurance companies are quite varied in what they cover, so I will be checking around when renewal time comes.

coylemj

I had my motor and home insurance with the same company so when I got my home renewal it said that the price include a 'loyalty discount' - yeah right. Even with no claims in the past 10 years and no high-value items on the policy, I got a quote for €100 less from FBD. Everything else was equal - same rebuild costs and same contents cover. I downloaded their home policy, it looked ok by me so I went with them.