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House Insurance - Huge jump in renewal!!

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  • 27-10-2009 11:41am
    #1
    andreac
    Registered Users Posts: 8,000 ✭✭✭


    I just got my house insurance renewal there last week and it has jumped up nearly 200euro since last year, i cant understand it as ive had no claims.

    Ill be definately ringing around as many as i can to try get better quote. Has anyone else found that their premiums have jumped up for no reason?

    Or has anyone any got any good value quotes from certain companies? :)


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    #2
    _Nuno_
    Registered Users Posts: 188 ✭✭_Nuno_


    I got insurance for my house contents from the UK at a fraction of the price I'd be charged here. Irish insurance companies seriously rip off people, besides making getting insurance extremely hard, espcially if you're a foreigner.

    The company I used is Lark Insurance.


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    #3
    andreac
    Registered Users Posts: 8,000 ✭✭✭andreac


    But can you use a UK company for an irish household though?


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    #4
    _Nuno_
    Registered Users Posts: 188 ✭✭_Nuno_


    andreac wrote: »
    But can you use a UK company for an irish household though?

    Well, they know my house is in Ireland and they did it for me, although I'm using a musical instruments policy instead of the household one. I don't see why you wouldn't be able to use an UK company.

    It's not like motor insurance that you're actually forced into going with an Irish company. I'd send them an email and get a quote anyway.


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    #5
    seamus
    Registered Users Posts: 68,317 ✭✭✭✭seamus


    You can expect home insurance cover to shoot up over the next couple of years, particularly buildings cover. The number of house "accidentally" going up in flames has skyrocketed since the recession.

    Insurance premiums have a natural tendancy to swing upwards and downwards. The next couple of years is a swing upwards which will inevitably be followed by a swing downwards.

    Maybe look at your policy and work out if you're actually valuing everything properly. Remember to get quotes from everyone.


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    #6
    tmdsurvey
    Closed Accounts Posts: 55 ✭✭tmdsurvey


    I have had a similar experience with both motor and house insurance. Left both companies and got much cheaper quotes from an insurance crowd called 123.ie. Checked around a few and they were by far the cheapest. Not a bad idea to go further afield either and try a foreign/uk company...


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    #7
    tmdsurvey
    Closed Accounts Posts: 55 ✭✭tmdsurvey


    seamus wrote: »
    Maybe look at your policy and work out if you're actually valuing everything properly. quote]

    Very good point. Insurance cover on buildings is indexed linked. There is a reduction in reinstatment costs as builders cut their prices. We examined our policy and the buildings cover was overvalued by about €70k. Have a look at reinstatement building costs attached..


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