Your home is usually your biggest asset therefore it is imperative that you have the correct cover. The cheapest household insurance is no insurance.

 

Here is a step by step guide to help you.

 

Your building insurance should cover the structure, domestic outbuildings, fixtures and fitting etc, (items you cannot take when you move house eg fitted furniture, bathroom suites etc,) you can find home-building costs in the guide to House Rebuilding Insurance available from the Society of Chartered Surveyors. 

 

Your contents insurance should cover household goods and your personal effects of everyone that reside in the house permanently. You should class your contents as items that if you were moving home you would take with you, eg carpets, curtains, beds free standing furniture, etc. You should insured your contents for the value and replacement at present day in the event of being damaged or stolen.

 

Accidental damage covers incidents which happens accidently, eg paint being spilt, a television being knocked over. This is an optional extra available usually for owner occupied properties. There are however exclusions to accidental damage, eg breakage with cleaning, wear and tear, domestic pets causing damage, again we would be happy to discuss this you.

 

All risks cover is for items that are temporarily outside of the home, this protects your items from theft, loss or accidental damage. These items would include jewellery, items of clothing etc. Usually mobile phones, hearing aids, sports equipment and bicycles are not included and have to be specifically. You may be asked for valuations for items over a specified amount, this can vary through the insurance companies we deal with. 

 

The excess is the amount of each claim that you are responsible for yourself; the excess varies for insurance companies and also varies per claim.  For example with an insurance company the excess for theft is €250, a claim of theft in the house in the sum of €1,000, the insured would receive a cheque in the sum of €750.00. A claim with the same insurance company for water damage to floor caused by washing machine in the sum of €1,500. The excess doubles and the insured would receive a cheque in the sum of €1,000.  

 

This is a discount from insurance companies for having no claims for a certain period.

 

This means that items would be replaced as new in the event of a claim by an insured peril. This is subject to terms and conditions of each policy.

 

Again if you need to go through your insurance or if you have any more questions please do not hesitate to contact Olivia on 01 2944444.