Home Insurance Comparison

A recent comparison of Home Insurance prices in Ireland was carried out in February 2011. The following insurance companies were involved in the survey.
RSA , Chartis , Quinn Direct , Aviva , Zurich , Allianz , FBD, AXA, Getcover

The survey was carried out on a fairly small sample – so the results can only be used as a guide. You need to obtain quotes for yourself to ensure you get the best deal. Brokers such as the AA were not included in the survey.

In the Financial Regulator price comparison – quotes were obtained for 8 different properties

In one example a 4-bedroom detached house in Co. Kilkenny. The rebuilding cost is €170,000 and the contents are worth €70,000.
The Cheapest insurance quote was from Quinn Direct – at €257 a year. The most expensive quote for this example was from Chartis Direct at €699 – a difference of almost €442 Euro a year.

Another Example was a mid-terrace, 3-bedroom townhouse in Milltown, Dublin 6. The rebuilding cost is €250,000 and the contents are worth €75,000.
The cheapest quote for house insurance was from Getcover – €404 a year.
The highest price this time was from AXA Insurance at €686. A difference of €282 a year.

You might get even cheaper insurance by going to an online insurance broker such as the AA

A small price survey carried out for RTE in early 2012 – found that AA Home Insurance provided the cheapest price for insurance on a Dublin 4 Bedroomed semi detached house – with buildings cover of €250k and contents cover of €75k with accidental damage included.

The quote from AA Home Insurance was €409 (excess €350. ) Other prices for house insurance in the survey were . €480.97 Allianz (excess €250); €461 Liberty (excess €250); €459 Zurich (excess €250); €455 FBD (excess €250)

TIP: Make sure you don’t under estimate your rebuilding costs. If you are under insured it could affect claims you make in the future. Your insurer could payout less than your claim .

Check the rebuilding cost of your home – don’t just reinsure for what it cost. Rebuilding prices have dropped – and the market value would have included the price of the land (rebuilding costs will exclude site costs)

Unlike car insurance – you are not legally obliged to take out house insurance. But if you have a mortgage, your lender can insist that you have buildings insurance so that you can afford to rebuild your home if it is destroyed.