What You Need To Know About Property Cover in Ireland
Property insurance might not be the most exciting topic, but it plays a vital role in protecting your home and your belongings. Whether you are settling into your first home in Dublin or have owned a property in Galway for years, keeping your cover up to date can prevent a major financial headache. This guide explains what every homeowner in Ireland should keep in mind.
Insure For The Rebuild Cost
One common mistake is insuring a property based on its market value or the amount paid for it. In Ireland, you should insure your home for the full cost of rebuilding it from the ground up. That includes materials, labour, architect fees, and related professional services.
Helpful tip: The Society of Chartered Surveyors Ireland offers a rebuild cost calculator to help estimate the correct figure.
Avoid The Risk Of Being Underinsured
Even a small shortfall can make a big difference during a claim. For example, if your home is insured for €200,000 but the rebuild cost is €250,000, you could be left paying a large portion yourself. Review your sum insured each year so it reflects current building costs.
Check What Your Contents Cover Includes
Many people underestimate the value of what is inside their homes. From TVs and laptops to furniture and jewellery, the total adds up quickly. Make a list of your possessions and update it once a year. High value items such as engagement rings or designer watches worth more than €2,000 often need to be listed separately on your policy.
Be Aware Of Modern Risks
Cover today goes beyond fires or burglaries. Claims in Ireland often involve floods, burst pipes, and issues related to smart home devices. When comparing policies, check if they include:
- Flood damage, especially in areas with a history of flooding
- Water leaks and burst pipes
- Emergency call outs such as broken boilers or locksmith services
- Accidental damage, helpful for households with children or pets
Compare Policies Carefully
The lowest premium is not always the best choice. Prices vary by location, property type, and the security measures you have in place. Balance cost with the level of cover and the insurer record for claims handling.
Before you buy, make sure you check:
- What is not covered, for example garden walls or gates damaged in a storm
- The excess you will pay if you make a claim
- Customer service and claims experience for the insurer
When you are ready to review options, visit our Home Insurance page to compare trusted Irish providers and find the right level of protection for your needs.
Final Thought
A good property insurance policy will not stop unexpected events, but it can provide financial security when they happen. Set a yearly reminder to review your cover so you can protect one of your most valuable assets with confidence.
All insurance content on Compare Insurance Ireland is written and reviewed by qualified Irish insurance professionals and reflects current Central Bank of Ireland regulatory standards. We are members of Brokers Ireland and fully regulated by the Central Bank of Ireland.