Taking out home insurance

tk123

Hi Guys - a quick background : currently living with folks in Glasnevin while I save for my own place - 2 flood alerts in the last week have me worried that all my stuff is going to be wrecked because my idiot father refuses to insure the house:mad: The house is in my mother's name so I'm guessing we can insure the house without him.
I'm just wondering
1) Can I insure in my name or does it have to be the owner's name - reason for this is that I already have motor policy with Quinn so hoping for a reduction
2) The house is worth around 600k - what amount do I insure the building for!?
3) What actually happens when we sign up - eg do they come out and inspect the building/do I make a list of what we want on the content insurance or do I just give the figure?

Any advise would be welcomed.

bills

Well you insure the house for the cost to rebuild, not market value.
As far as i know, most companies dont inspect-you just decide how much contents worth. Ofcourse, you have a duty to be truthful. You can insure certain valuable items specifically if you wish, eg. engagement ring. By the way certain areas which are prone to flooding,insurance companies may refuse to insure so may need to shop around.

tk123

Thanks bills - I did a bit of looking around and found the site that tells you how to work out the rebuild cost so just need to meaure up and do an inventory next!

homer911

In case anyone else has a similar query - you can get guidance on insurance valuations here: http://www.scs.ie/

GerardKeating

tk123 wrote: »

Hi Guys - a quick background : currently living with folks in Glasnevin while I save for my own place - 2 flood alerts in the last week have me worried that all my stuff is going to be wrecked because my idiot father refuses to insure the house:mad: The house is in my mother's name so I'm guessing we can insure the house without him.
I'm just wondering
1) Can I insure in my name or does it have to be the owner's name - reason for this is that I already have motor policy with Quinn so hoping for a reduction
2) The house is worth around 600k - what amount do I insure the building for!?
3) What actually happens when we sign up - eg do they come out and inspect the building/do I make a list of what we want on the content insurance or do I just give the figure?

Any advise would be welcomed.

Three things, firstly you (tk123) CANNOT insure the house, you do not own it, so you have no "insurable interest" in the house, but your mother (the owner) can insure the house.

Secondly, if you are only interested in the your posessions, you can get some contents only insurance for you stuff.

Thirdly, if the area is prone to flooding, the insurance company might exclude this kind of risk from the policy.

tk123

Thanks Gerard! I'd feel a bit bad only insuring my stuff lol!

stepbar

tk123 wrote: »

Thanks Gerard! I'd feel a bit bad only insuring my stuff lol!

AFAIK you must insure the entire contents of the house. You can't just insure the value of your own. Best bet it to have a chat with the ma and get the house fully insured.