Do you have house insurance??

mel123

...i dont, something i keep meaning to do, but just out of curiousity wondering does everyone have it? im in an apartment so i have buildings insurance i think its called, but not for the contents.....

Get a copy of the policy and the id of the broker from your Solicitor - they'll be with the closing docs. Should be able to fire on your own contents cheap enough. Wouldn't lose sleep as long as the structure is covered and your interests and those of your mortgagor are noted on the policy, but if you have any contents of value then it's as well to cover them.

Borzoi

mel123 wrote:

...i dont, something i keep meaning to do, but just out of curiousity wondering does everyone have it? im in an apartment so i have buildings insurance i think its called, but not for the contents.....

Yes, yes I do. Premium was about €300 per year for €50K cover

your buildings insurance on the block policy will, obviously, pay for rebuilding the structure, but will only include very basic kitchens and bathrooms. So you need to allow for tiling, flooring, curtains, appliances and then the actual 'contents'

When you come to value your possesions bear in mind that things like CDs and books, though individually cheap enough start getting expensive if you have to replace 20-30 of them

Victor

Borzoi wrote:

your buildings insurance on the block policy will, obviously, pay for rebuilding the structure, but will only include very basic kitchens and bathrooms. So you need to allow for tiling, flooring, curtains, appliances and then the actual 'contents'

That depends. If all the apartments had nice kitchens from the start, they are likely to have been included in the buildings insurance.

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mel123

Ive just requested a copy of my insurance from the management company, i never previously got one from my solicitor or the manag co. So i gather then i just have to get contents insurance?? This might sound like a stupid question, but what do u do, just get insurance for how much u think all ur furniture, valuables etc are worth?? for the record, my kitchen and tiles were already there when i bought the place (new), so presumably this will be covered on the insurance we have with the manag co??

Victor

mel123 wrote:

So i gather then i just have to get contents insurance??

Yes, it would be sensible, but there is usually no obligation.

mel123 wrote:

This might sound like a stupid question, but what do u do, just get insurance for how much u think all ur furniture, valuables etc are worth??

Essentially. Make a list of everything and put a reasonable value for their replacement (not necessarily the original price, e.g. you may have spent a fortune on a plasma TV last year only for it to cost half that this year) on them. Realise your underwear drawer may be "worth" a few hundred euros.

Check the proposal document / policy for exactly what the insurance company needs and offers.

mel123 wrote:

for the record, my kitchen and tiles were already there when i bought the place (new), so presumably this will be covered on the insurance we have with the manag co??

Possibly. Ask the management company to make sure.