Rising Rebuild Costs in Ireland: Time to Check Your Property Insurance
If you are a homeowner or landlord in Ireland, now is a good time to make sure your property is properly insured. Rebuild costs have risen sharply, which means your current level of cover might no longer be enough.
Why Rebuild Costs Are Increasing in Ireland
The latest House Rebuilding Guide from the Society of Chartered Surveyors Ireland (SCSI) shows that the average cost to rebuild a home, including demolition and site clearance, has gone up by around 6.3%. In Dublin, the increase is closer to 3%, but it remains the most expensive region for rebuilding.
Several factors are driving these increases. Global supply chain issues, higher energy costs, and the ongoing effects of the war in Ukraine have all played a role. Skilled trades such as plumbers and electricians are also in short supply, driving up labour costs. In addition, levies on concrete and waste disposal are further increasing construction expenses across Ireland.
How Rising Costs Affect Your Property Insurance
Even if you are not buying or selling a home, these changes still matter. If your rebuild value is too low, your insurer may not cover the full cost of repairs or reconstruction after serious damage. Market value and rebuild cost are not the same; insurers base payouts on the latter.
Check Your Cover Using the SCSI Calculator
It only takes a few minutes to use the SCSI Home Rebuild Calculator to estimate an accurate rebuild value. If your property has changed since your last renewal, such as a new kitchen, bathroom, or garden office, update your insurer’s details to ensure full protection.
Review Your Home Insurance Policy
Having the right level of property insurance means you are financially protected if the unexpected happens. At Compare Insurance Ireland, we help you find great value and reliable cover from trusted Irish insurers. You can compare cheap property insurance quotes in Ireland in minutes or call us directly on 042 935 9090 to speak with our team in Dundalk.
Compare Insurance Ireland is 100% Irish owned and regulated by the Central Bank of Ireland.