Hefty Home Insurance Hikes All Round - Any Deals?

jj880

Its that time again. Premium last year was 207 euro with 123.ie. This year that went up to 394 😳

Went to chill insurance and best they could do was 290. Phoned 123 and they said best they could do is 360 with a multi policy discount as we have car insurance with them also. Agent started telling me this is due to inflation of cost of building materials which I found a bit strange since the amount of cover I was looking for is the same. Anyway no matter where I get a quote I cant get less than 290. FBD, BOI (even when I give them my BOI mortgage account number), Axa are all ridiculous quotes also. What the hell is going on?

Aviva were cheapest for me recently

jj880

https://www.boards.ie/discussion/comment/119973658#Comment_119973658

230 euro with Aviva! You're a star!

AndrewJRenko

I got a good price from Peopl insurance via my credit union, but I ended up staying with Aviva.

Their renewal quote was up 50% on last year, but almost all of that was down to the 'all risks' premium for a ring, which just wasn't worth it.

walterking

Be sure to increase the cover value - if you have a claim and they find you are only 75% covered, they can pay out 75% too even if your claim is below the policy value.

Check the rcsi website for rebuilding costs - you probably don't need their level, but I'd be no more than 10% below

coylemj

Check the rcsi website for rebuilding costs - you probably don't need their level, but I'd be no more than 10% below

You were one letter out, 'rcsi' is the Royal College of Surgeons in Ireland. It's always best to just quote the link....

https://scsi.ie/consumer/build/calculator/

jj880

Some really crazy quotes this year.

BOI insurance (with my BOI mortgage number added) is 414!

People insurance 600!

Chill is 303 from Axa.

Aviva renewal is 282. Up from 230 last year. Think I'll just renew with them.

coylemj

https://www.boards.ie/discussion/comment/121438606#Comment_121438606

Those numbers mean nothing without quoting the amount of cover they're buying you.

Your renewal quote went up from 230 to 282, an increase of 23%. Did they increase the level of cover? If so, please tell us the before (last year) and after (renewal quote) building cover.

jj880

https://www.boards.ie/discussion/comment/121438827#Comment_121438827

Didn't seem to matter up until now in thread. Anyway Ive always insured the same amounts. 150k and 20k contents. Its a 1200sq foot 3 bed semi in rural Donegal.

DataDude

https://www.boards.ie/discussion/comment/121438927#Comment_121438927

Be careful on that. You are probably only just over 50% insured.

If you suffer a €10k loss, you’ll only receive €5k from the insurer and have to cover the rest yourself.

jj880

https://www.boards.ie/discussion/comment/121438948#Comment_121438948

Had a look at the SCSI calculator above for 2023 in North West region. Says I should be insured for 255k rebuild 😳. Ok will see what Aviva will do for 255k.

jj880

Aviva 255k rebuild and 23k contents worked out at 288 euro. Going with that.

Gilly43

When using SCSI rates, make sure on top of house area that you include an allowance for drives, boundary walls, garages etc as they’re not integrated into rebuild rates (single garage circa €20k, double garage €35k for example. Domestic outbuildings included under your home insurance policy Buildings Sum Insured

For explanation of premium increases, materials and labour costs up.

For example SCSI rates will show increases in rebuild of bungalow in NW for example of €1441 per sq.m in 2021 to €1926 in ‘22 to €2153 in ‘23

jj880

Think Im ok for now. No garage. Wooden shed I got for 200 euro. Patio I built myself for maybe 300 euro. About 12 metres of hedge I added out the front and wooden fencing. Maybe 30sq metre of tarmac out front. Thats it.