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House insurance quote too good to be true?

  • 31-07-2016 4:30pm
    #1
    Thoie
    Registered Users, Registered Users 2 Posts: 6,344 ✭✭✭


    Got a renewal quote for home insurance (contents only, apartment building) from my existing insurer that I've been with a few years of over €360 - about double what it's ever been before. No claims, ever, so that shouldn't be an issue.

    Looking around online for a few other quotes, using the same excess and contents amount, got a few prices around €200, which seems not unreasonable.

    Then I got one quote for €75 for the year, which sounds far too good to be true.

    <insurance company> Ltd is regulated by the Central Bank of Ireland, <insurance company> Ltd. is a sister company of <unrecognised mortgage provider> and <insurance broker>.

    Doing some googling, they used have a "Talk To" here on boards, and I think I've seen TV ads for them. Reckon they're legit?


Comments

  • #2
    Konata
    Closed Accounts Posts: 6,164 ✭✭✭Konata


    Check the Central Bank's register (here) to see if they're on it. If they are then they are indeed authorised and regulated.


  • #3
    Thoie
    Registered Users, Registered Users 2 Posts: 6,344 ✭✭✭Thoie


    Konata wrote: »
    Check the Central Bank's register (here) to see if they're on it. If they are then they are indeed authorised and regulated.

    Excellent, thanks.

    They're there alright. I have a few days before renewal, will do some more research - I'm still wary of such a "bargain" :D


  • #4
    Sue Pa Key Pa
    Closed Accounts Posts: 2,060 ✭✭✭Sue Pa Key Pa


    What's the sum insured?
    What's the policy excess?
    Whet security and daytime occupancy details did you put in?


  • #5
    Thoie
    Registered Users, Registered Users 2 Posts: 6,344 ✭✭✭Thoie


    What's the sum insured? €15k (contents only, plus 1 all risks item of €700)
    What's the policy excess? €250
    Whet security and daytime occupancy details did you put in? Rather not say


    Edit:
    Though come to think of it, it asked about an alarm, and if there were smokers, but not about daytime occupancy.


  • #6
    Sue Pa Key Pa
    Closed Accounts Posts: 2,060 ✭✭✭Sue Pa Key Pa


    Thoie wrote: »
    What's the sum insured? €15k (contents only, plus 1 all risks item of €700)
    What's the policy excess? €250
    Whet security and daytime occupancy details did you put in? Rather not say


    Edit:
    Though come to think of it, it asked about an alarm, and if there were smokers, but not about daytime occupancy.

    Premium sounds VERY low. I asked about security and daytime occupancy as there'll be a lot of bother in the event of a claim if they are wrong. If you PM me the insurer and county you live in. I'll play around and see if I find any flaws


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  • #7
    NUTLEY BOY
    Registered Users, Registered Users 2 Posts: 2,345 ✭✭✭NUTLEY BOY


    Just be very careful that you are getting a quote for like to like cover.

    A relative of mine got a cheaper renewal premium from his existing household insurers who shall be nameless. We examined the details and found that they had changed the basis of cover from accidental damage to the older style list of specified perils with no notice.

    Just check that the details of cover under a cheaper quote match your existing cover.


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