What You Need To Know About Property Insurance By Compare Insurance Ireland

couple on sofa review their house insurance in ireland

Let’s be honest, home insurance isn’t exactly thrilling. For most of us, it’s just another thing on the to do list. But when life throws a curveball, the right insurance can make a huge difference. Whether you’re moving into your first home in Dublin or you’ve been settled in Galway for years, making sure your home is adequately covered is more important than ever. Here’s a simple, no-nonsense guide to help you stay on top of it:

Insure for the Rebuild Cost

One of the most common mistakes? Insuring your home based on its market value or what you paid for it. In Ireland, you need to insure your property for how much it would cost to rebuild, think materials, labour, architects, and all the professional fees that come with starting from scratch.

Pro tip: The Society of Chartered Surveyors Ireland (SCSI) has a handy calculator to help you figure this out.

Don’t Risk Being Underinsured

Even being slightly underinsured can be costly if you ever need to make a claim. Let’s say your home is insured for €200,000, but the actual rebuild cost is €250,000; you could find yourself €50,000 short if disaster strikes. It’s not exactly a situation you want to be in.

Know What’s Inside: Contents Cover

Most of us own more than we think, TVs, laptops, jewellery, bikes, furniture, it all adds up fast. Make a list of your valuables and keep it updated. If you’ve got high-value items (like an engagement ring or a fancy watch worth over €2,000), you’ll generally need to list them separately on your policy.

Cover for Today’s Risks

It’s not just about fires and burglaries anymore. In Ireland, we’re seeing an increase in floods, burst pipes, and even issues with smart home devices. It’s worth checking if your policy covers:

Flood damage (especially if you live in a flood prone area).
Water leaks and burst pipes.
Emergency call-outs (for things like broken boilers or locksmiths).
Accidental damage (convenient if you’ve got kids or pets).

Compare Policies

We all love a good deal, but with insurance, the cheapest option isn’t always the best. Prices depend on factors such as your location, the type of property, and the security measures you’ve installed. Shop around for an affordable, comprehensive home insurance quote today with Compare Insurance Ireland. Make sure you check:

What’s not covered (e.g. damage to fences or gates during storms).
The excess amount (what you pay towards any claim).
The insurer’s reputation for handling claims and customer service.

Final Thought

A good house insurance policy won’t stop bad things from happening, but it can definitely help you avoid a financial headache if they do. Take a little time once a year to review your cover. It’s a small job that could save you a lot of stress in the long run.