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House insurance - extorsionate!! any options?

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  • 17-01-2014 1:41pm
    #1
    busterjones
    Registered Users Posts: 144 ✭✭


    An elderly relative (90) is looking to renew his house insurance.

    Is a big house that he had in flats (6) but now he lives there with some family members and wants to ensure the full residence in a single policy.

    The house has three flat roofs (2 x felt and 1 x concrete) - one felt roof was completely redone last summer and the other was examined and any repairs needed were done.

    The plumbing and wiring would have been maintained but not redone in at least 10 years.

    The house is approx. 150 years old and to my knowledge he has made no claims.

    He's always dealt with one broker who has just given a renewal quote of €2500 and told that only one company (axa) will offer a policy.

    To me this is very high and if there's only one company they can charge what they want.

    Any advice and/ or suggestions re. alternative options would be very much appreciated.

    Thanks!


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    #2
    kkelliher
    Registered Users Posts: 1,583 ✭✭✭kkelliher


    It sounds like its a very large house and if it is broken into flats then its probably a commercial policy he is being offered. It all comes down to the size of the property and its rebuild value. The flat roofs will add to the cost as they have a higher risk factor than a sloping roof. The age of the property is also an issue as alot of insurers dont insure properties over 100 years.


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