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Massive Increase in Buildings Insurance

  • 12-02-2015 8:17pm
    #1
    kja1888
    Registered Users, Registered Users 2 Posts: 92 ✭✭


    I've just got my Buildings Insurance renewal (for Wolstan Haven in Celbridge) from AXA, and it's gone up from 45 euro per month to 96 per month - over 100% of an increase. I rang them today, and couldn't get a definitive answer why, other than the risk has been reassessed and the premium raised accordingly. The AXA agent just started guessing reasons; too near the Liffey (3/4 of a mile away) or maybe its potential flooding from rainwater drains. Wasn't sure really.

    I find it totally unacceptable that can't even answer a basic question about their own policy. Anyone else experiencing this?


Comments

  • #2
    delahuntv
    Closed Accounts Posts: 1,532 ✭✭✭delahuntv


    kja1888 wrote: »
    I've just got my Buildings Insurance renewal (for Wolstan Haven in Celbridge) from AXA, and it's gone up from 45 euro per month to 96 per month - over 100% of an increase. I rang them today, and couldn't get a definitive answer why, other than the risk has been reassessed and the premium raised accordingly. The AXA agent just started guessing reasons; too near the Liffey (3/4 of a mile away) or maybe its potential flooding from rainwater drains. Wasn't sure really.

    I find it totally unacceptable that can't even answer a basic question about their own policy. Anyone else experiencing this?


    Eh - very simple. Switch to another insurance company.

    I switch almost every year. Currently pay less than €400 for substantial house and contents


    also a huge number of people give house value for insurance - whereas it is house rebuild cost. A 4bed semi would have a rebuild cost of about €150,000 to €180,000. Even if you have it insured for 400k, you'll only get the rebuild cost.


  • #3
    L1011
    Registered Users, Registered Users 2 Posts: 71,138 ✭✭✭✭L1011


    Insurers will almost always quote higher every year and suddenly be able to drop if you tell them you've got a lower quote.

    I live on a road that shows on the OPW Flood Map (although if you read the detail, it was from a root blocking a drain and resulted in no house damage, just an impassable road) meaning some insurers run a mile and I'm coming under 400 quid.


  • #4
    delahuntv
    Closed Accounts Posts: 1,532 ✭✭✭delahuntv


    I went onto Zurich Insurance website - put in a hosue that is for sale in Wolstan Haven to ensure accurate quote

    4 bed semi, rebuid cost 180k, contents 30k, increased excess to €500, no claims for 6 years.

    Quote was €255. - Time to enter details was less than 2 minutes.
    Quote with accidental damage was €277

    http://www.zurichinsurance.ie/HOME-INSURANCE/


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