House Insurance

mrhappy42

Just got a massive quote for house insurance 900Euro. Rang around and got another quote for 600. Not bad for 10 minutes work :-)

What I really want to know is what is the minimum house content insurance I should ask for...(I assume insuring to much is a waste as the insurance will only pay for what you had).

should I put it at 5k and hope for the best ???

K2

I would always have the rebuilding costs and contents slightly over insured, but to answer your question why not add up your contents at the replacement price for new items. tbh 5k seems quite low, a leather sofa and pc would quickly gobble that up, god forbid but if your house/flat ever burnt down you would have to replace everything from your socks to the microwave.

btw have you tried the ulster bank (www.ulsterbank.ie), I've found them to be very competitive and it can be done over the net, no phone calls.

Orion

mrhappy42 wrote:

should I put it at 5k and hope for the best ???

Way too low. You want cover for everything just in case - that includes all your clothes, cds, books as well as furniture fittings etc.

I tie mine to 20% of the value of the house. Remember, if you're underinsured you will only get back a pro rata rate. For example: contents are worth 10K and your are insured for 5K. A fire causes 4K worth of damage to the contents. You will only get back 2K as you are only 50% insured for contents. It's worthwhile to be over insured than under.

mrhappy42

House about 350...so been ringing for quotes (actually my wife has)...for house of 270 and contents of 80k...

Allianz - 855.80
Axa - 805.00
AA - 646.00, but for less rebuilding cost
Europlan - Hibernian - 645.00
Ulster Bank - 596.19

Looks like Ulster Bank wins...thanks for the advice. will book it tomorrow so any further help...you got a few hours left :-)

RainyDay

You need to be careful that you are comparing like-with-like when shopping around. On each of these quotes, were the policy excess levels the same? Were they all offering new-for-old cover? Did they offer accidental damage cover?

Don't just plump for the cheapest, as their cover may be very restrictive.

spongebob

Some extra insurance bits thrown in for "free" are handy like free coverage for Bikes even if not at the house and stuff. You only see these in the T&C 's

Twould be nice if askabout money or suchlike did a collection of the latest insurance T&C s and a commentary on the interesting features ....maybe in PDF format .

one set for car and one set for house would cover the bulk of it I should think. :ninja:

M

LFCFan

try 123.ie for a quote. They give you a 20% discount if you get it through them.