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House Insurance

  • 19-01-2020 2:28pm
    #1
    Registered Users Posts: 455 ✭✭


    I'm with aviva and my house insurance has gone up 100 euros in the last year, is there any company doing good deals on insurance ?


Comments

  • Registered Users Posts: 3,817 ✭✭✭Darc19


    Liberty are competitive this year.

    Remember it's the rebuild cost, not the value that you are insuring.


  • Registered Users Posts: 105 ✭✭Shamboo1801


    thebackbar wrote:
    I'm with aviva and my house insurance has gone up 100 euros in the last year, is there any company doing good deals on insurance ?


    I found quotedevil excellent. Second year in a row and I normally change yearly.


  • Registered Users Posts: 93 ✭✭sosq


    Try AIB. They do axa insurance but it is cheaper through bank than directly.


  • Registered Users Posts: 1,283 ✭✭✭stryker mcqueen


    Use code 3ZurFree with Zurich for 2 months free cover


  • Registered Users Posts: 652 ✭✭✭GaGa21


    sosq wrote:
    Try AIB. They do axa insurance but it is cheaper through bank than directly.


    We found the opposite.


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  • Registered Users Posts: 602 ✭✭✭WayneEnterprise




  • Registered Users Posts: 45,762 ✭✭✭✭muffler


    sosq wrote: »
    Try AIB. They do axa insurance but it is cheaper through bank than directly.
    Im currently insured that way as I have found them cheaper for the last 2 years.


  • Registered Users Posts: 3,817 ✭✭✭Darc19


    It depends on so many factors.

    Insurers balance the risk.

    If they have too many customers in one area, they'll increase the price there until they lose some.

    If they have very few detached bungalows, they'll reduce the price until they have enough to balance their portfolio.


    So one person's best value insurer can be the most expensive option for someone else in a different town and vice versa.


    Same applies to most insurance


  • Registered Users Posts: 2 Gallagher4


    I have a promocode for 123.ie for 14% off.

    LOVE123

    :)


  • Registered Users Posts: 173 ✭✭Baseball72


    Darc19 wrote: »
    Liberty are competitive this year.

    Remember it's the rebuild cost, not the value that you are insuring.

    Is there a rule of thumb / ratio for rebuild cost as opposed to current market price?

    My house has a market value of approx €400K give or take, but just noticed rebuild is estimated at €170K.

    Any guidance is appreciated.
    Thanks.


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  • Registered Users Posts: 1,687 ✭✭✭Ken Tucky


    I use Chrome insurance.
    Have for years. Never let me down. They are a broker and since I took cover out with them I have never needed to go and get an alternative quote.
    And no....i don't work for them


  • Registered Users Posts: 3,817 ✭✭✭Darc19


    Baseball72 wrote: »
    Is there a rule of thumb / ratio for rebuild cost as opposed to current market price?

    My house has a market value of approx €400K give or take, but just noticed rebuild is estimated at €170K.

    Any guidance is appreciated.
    Thanks.
    If your house burns down (highly unlikely) and you have paid a premium for €400k cover, they will only pay you €170k.

    Funny, many people over insure the building and under insure the contents.


  • Registered Users Posts: 45,762 ✭✭✭✭muffler


    Baseball72 wrote: »
    Is there a rule of thumb / ratio for rebuild cost as opposed to current market price?

    My house has a market value of approx €400K give or take, but just noticed rebuild is estimated at €170K.

    Any guidance is appreciated.
    Thanks.
    Have a read at this


  • Registered Users Posts: 173 ✭✭Baseball72


    Thanks - have looked at that - the minimum in my case is €182K for re-building. Will get the policy adjusted accordingly. Thanks again - very helpful.


  • Registered Users Posts: 19,587 ✭✭✭✭Muahahaha


    Darc19 wrote: »
    If your house burns down (highly unlikely) and you have paid a premium for €400k cover, they will only pay you €170k.

    Funny, many people over insure the building and under insure the contents.

    Balls, only just seeing this thread now and I probably did that last week with a new policy. Insured the contents for 25k (pretty low in hindsight) but over insured the rebuild cost by about 80k. Im still within the 14 day cooling off period, would they typically adjust for me or would I have to go and cancel the policy altogether and start again?


  • Registered Users Posts: 45,762 ✭✭✭✭muffler


    Muahahaha wrote: »
    Balls, only just seeing this thread now and I probably did that last week with a new policy. Insured the contents for 25k (pretty low in hindsight) but over insured the rebuild cost by about 80k. Im still within the 14 day cooling off period, would they typically adjust for me or would I have to go and cancel the policy altogether and start again?
    Wouldnt see an issue especially if you are within the cooling off period. Its only a matter of the insurer re-jigging a couple of figures.

    Depending on the the level of increase/decrease you might end up paying an extra few euro as the cost of contents cover is a good bit higher than the cost of buildings cover....they are charged at different rates per €1000 of value. Its been so long since i checked but buildings is something like €1.50 per €1000 and contents cover is €4 per €1000.

    Those are just approx. figures to illustrate the difference in the cost of the 2 sections of the policy.


  • Registered Users Posts: 19,587 ✭✭✭✭Muahahaha


    Thanks muffler, thats very helpful.

    Would you know when they talk of contents is there any kind of industry wide definition? I was taking it as only movable items, eg tv, kitchen appliances, beds, wardrobes. But now Im wondering does it also include wooden floors, carpets, even bathroom sanitary ware like showers, baths, toilets, sink? . Just trying to figure out the line between insuring a house to be completely re-built and insuring it for the contents.


  • Registered Users Posts: 45,762 ✭✭✭✭muffler


    As far as I know anything that is fixed or secured is classed as part of the building. Movable items fall under contents. So the items you mentioned would fall under the buildings section. The likes of your white goods (Washing machine, fridge, cooker, dryer etc) are all movable (unlike bathroom fittings)so would fall under contents. Might do no harm to confirm this if you have to contact your broker/insurer again.

    One tip I did get from a couple of people involved in the insurance business is get accidental damage included in your policy. Its a bit like the open driving on car insurance in so far as it was standard years ago but insurance companies gradually removed it. Not every insurer will give you the accidental damage cover but if you get it then hold on to it. Its only a few euros extra but if you were unfortunate enough to make a claim that it wont affect the no claims bonus.


  • Registered Users Posts: 19,587 ✭✭✭✭Muahahaha


    cheers muffler, that clarifies things. Will ask the insurance company for a breakdown when Im back on to them.

    I have emergency cover that covers things like a plumber if there is water leak or a locksmith if a break in, etc up to four times a year with the call out fee covered up to 250 euro and no effect on the no claims bonus. Is that different to accidental insurance and if so what events does accidental insurance cover?


  • Registered Users Posts: 45,762 ✭✭✭✭muffler


    Muahahaha wrote: »
    cheers muffler, that clarifies things. Will ask the insurance company for a breakdown when Im back on to them.

    I have emergency cover that covers things like a plumber if there is water leak or a locksmith if a break in, etc up to four times a year with the call out fee covered up to 250 euro and no effect on the no claims bonus. Is that different to accidental insurance and if so what events does accidental insurance cover?
    A lot of insurers provide cover for emergencies as you described. However the accidental cover is different. Examples would be dropping the best Waterford crystal vase, knocking over a telly thats sitting on a coffee table, spilling a tin of paint on the carpet, kids knocking expensive ornaments off a shelf, spilling coffee into the laptop etc etc


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  • Registered Users Posts: 284 ✭✭carrickbawn


    thebackbar wrote: »
    I'm with aviva and my house insurance has gone up 100 euros in the last year, is there any company doing good deals on insurance ?
    I had the same experience. Been with aviva for my car and house for a few years and this year my house insurance shot up for no apparent reason.
    One big switch were pushing Zurich but they quoted high,so I tried Axa.
    Very reasonable quote. Got a nice call from them to confirm quote.
    As well as being 100 euros less than aviva I get 30 euros rewards from super valu. . Hopefully I will never need house insurance but happy so far.
    Btw... Have always believed that one big switch got the best deals in the market.
    Disappointed with their choice on this one and will go back to shopping around in future.


  • Registered Users Posts: 433 ✭✭coxy123


    Use code 3ZurFree with Zurich for 2 months free cover

    Is this offer still valid with Zurich - need to renew home ins.


  • Registered Users Posts: 1,571 ✭✭✭amber2


    coxy123 wrote: »
    Is this offer still valid with Zurich - need to renew home ins.

    Yes still valid.


  • Registered Users Posts: 383 ✭✭bugsyb4


    Hi,

    I know this is an old thread but someone might be able to help.

    Our house insurance is up in around 2 weeks and we are also currently in the process of switching mortgage too to KBC.

    I rang KBC yesterday to get a quote for house insurance to see could they do us an offer as we have banking with them too but anyway he was able to pull up the valuation report we had to get done to switch mortgage and what was on that was recommended insurance cover of 305k with house value of 315k. When I was ringing around I was giving buildings cover of 185k to insurance companies as that was what was on the previous valuation when we bought the house 3 years ago. Is it normal to have such a small gap between house value and buildings cover 10k in this instance? The previous valuation had a gap of 100k which I would have thought would be more in line!

    Anyway sorry for long winded detail above but my main q is will I now need to provide buildings figure of 305k to all companies going forward as when switching mortgage I will need to show house is insured by letter of indemnity and this will need to tie back to valuation report I assume? If so will I need to use the same figure every year or could I lower buildings amount as I am planning to fix the mortgage for a number of years so it is only this year I need to provide letter of indemnity? Obviously the higher buildings amount every year would ensure higher insurance cost personally I think valuer put too high a figure down this year!!

    Also if anyone has any promotional codes for house insurance they would be much appreciated.

    Thanks a lot


  • Registered Users Posts: 105 ✭✭Shamboo1801


    bugsyb4 wrote:
    I know this is an old thread but someone might be able to help.

    bugsyb4 wrote:
    I know this is an old thread but someone might be able to help.


    I'd be querying that figure. The value should be for a rebuild, not the sale value of the house. Ask a neighbour, or get a valuation from a builder if you know one, and base it on that. We bought ours for 300k but rebuild value is only 185k. Contents then should be, if you turn your house upside down, whatever falls out is contents.


  • Registered Users Posts: 45,762 ✭✭✭✭muffler


    bugsyb4 wrote: »
    recommended insurance cover of 305k with house value of 315k.
    Those figures simply dont add up. The house value contains amounts for the cost of the site and provision of all service / development contributions etc. Based on the above the guy is telling you that the site and services is valued at €10,000 :eek:

    I would expect to see a minimum of 60k - 80k between those figures. I posted this link earlier in the thread which will help you work out your rebuilding costs


  • Registered Users Posts: 854 ✭✭✭carq


    looking at my own house - value is about 290k.
    would rebuild value value of 239 sound about right or would that be too high?
    If it is semi D would a fire in your house , would damages a neighbours house come out of my rebuild cost?

    Have contents of 25k but that could be on the low side.


  • Registered Users Posts: 45,762 ✭✭✭✭muffler


    carq wrote: »
    looking at my own house - value is about 290k.
    would rebuild value value of 239 sound about right or would that be too high?
    If it is semi D would a fire in your house , would damages a neighbours house come out of my rebuild cost?

    Have contents of 25k but that could be on the low side.
    Are you sure the value is correct?

    There would normally be a min of 50k difference between rebuilding costs and value. I posted a link a few posts back for the rebuilding costs so check that.

    As for contents every house is different but I dont think you would insure those for anything less than 30 - 35k


  • Registered Users Posts: 1,209 ✭✭✭Beanstalk


    This thread has been super helpful. We're working through a broker who is adding accidental damage to our quotation. Is this worth it in your experience? I.e. is it easy to enact/claim things back etc.


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  • Registered Users Posts: 3,817 ✭✭✭Darc19


    Beanstalk wrote: »
    This thread has been super helpful. We're working through a broker who is adding accidental damage to our quotation. Is this worth it in your experience? I.e. is it easy to enact/claim things back etc.

    Really depends on your own situation. If you have 3 wild kids, then yes :D

    See what is covered, and then what chance it happening to you.

    Honest claims are easy and settled quickly. I had a business claim early this year for a burglary. Assessor was out in 3 days, we gave supporting documents, he submitted his report a few days later, we accepted it and claim was in our account a few days later - less than 2 weeks in total


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