Tips for taking out home insurance
Know your rebuild cost
It’s important to know how to value your home and what’s on the inside when getting house insurance quotes. Yet only 2 in 5 people feel confident doing this. To help you estimate the cost of rebuilding your home, try the House Rebuild Calculator from the Society of Chartered Surveyors Ireland*.
*Bank of Ireland are not responsible for information on third party websites.
Assess your contents
When valuing your contents, don’t just think about electronics or jewellery. It’s important to go from room to room and include all your furniture, appliances, and other everyday items you have at home. You should also think about extras, like cover for items in your garden or your garden shed (including lawn mowers and garden tools).
Consider your cover carefully
Make sure your cover is enough to meet your insurance needs. If it’s too low, you could be underinsured and may impact claims paid. This means your home (or its contents) are insured for less than it would cost to rebuild or replace them.
Choose quality security precautions
Taking extra steps to protect your home can help lower your insurance costs. For example, having an alarm fitted by a PRSA-registered installer and using good quality door and window locks can help keep your home safe. These steps make it less likely you’ll need to make a claim, which can reduce your premium.
Look for discounts
If you buy a new policy online, you’ll get 10% off your premium by using the code ‘Online10’. Choosing a higher excess could also help lower your premium.