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Insurance Increase?

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  • 18-12-2012 10:18pm
    #1
    I8A4RE
    Registered Users Posts: 238 ✭✭


    Did I hear right that all insurance policies, excluding health, are to increase due to pay for pyrite damage. I agree that it should be sorted but its the banks, quarries and insurance companies not motorists.

    Please feel free to correct.


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    #2
    chris85
    Registered Users Posts: 4,502 ✭✭✭chris85


    I8A4RE wrote: »
    Did I hear right that all insurance policies, excluding health, are to increase due to pay for pyrite damage. I agree that it should be sorted but its the banks, quarries and insurance companies not motorists.

    Please feel free to correct.

    It was the developers fault that pyrite was used. Not the banks. Insurance companies are getting hit for it and this affects premiums. Car insurance is getting a levy due to quinn meltdown which taxpayer picked the tab up for.


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    #3
    Atlantic Dawn
    Registered Users Posts: 82,538 ✭✭✭✭Atlantic Dawn
    M


    All non health policies to be hit by about .5% according to RTÉ...

    http://www.rte.ie/news/2012/1218/pyrite-scheme.html

    On Homebonds website it seems to imply that their cover is "Cover for 10 years in respect of the repair of major structural defects." someone should quickly tell their government it will save us all so much money or perhaps the advertising standards authority to explain how your house cracking all over the shop isn't a major structural defect.:D

    http://www.homebond.ie/home_buyers/
    HomeBond Insurance

    HomeBond Insurance Services Ltd helps Home Buyers protect their new home investment by providing HomeBond Insurance, which is underwritten by Allianz plc. HomeBond Insurance is a structural and defect insurance with deposit and stage payment cover for new homes. Once the Certificate of Insurance is issued, HomeBond Insurance provides financial cover* for relevant structural and relevant defects, should they arise. The Policy covers*:
    • Structural Defects
      Cover for 10 years in respect of the repair of major structural defects.
    • Smoke Penetration / Water Ingress
      Cover for 5 years in respect of remedial work in the event of water ingress / smoke penetration caused by major structural defects.
    • Deposits & Stage Payments
      Cover for Home Buyers for the loss of money deposited for the construction or purchase of a new home.


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