When considering taking out home insurance it is important to consider:
Although home insurance is not a legal requirement, it is important to feel secure in the fact that in the unlikely event that something happens to your property and belongings you are not left out of pocket.
What is buildings insurance?
Buildings insurance protects the physical property as well as its permanent fixtures and fittings; such as fitted kitchens and sanitary ware.
If you are renting a property it should be your landlord’s responsibility to sort out the building cover so you only have to concern yourself with contents insurance for your personal belongings.
Typically, buildings insurance covers damage caused by flood, fire, theft, storms or malicious damage and some companies’ provide cover for subsidence, heave and landslip.
Most banks make it mandatory that you have buildings insurance when you take out a mortgage. They will always offer you an insurance policy though the bank but remember you do not have to have insurance through the bank.
Calculating your property’s insured value
Making a reasonable assessment of your property’s rebuild value is a key element in organising buildings insurance. This is an important feature to remember as your property should be insured on the rebuild value of the property and NOT the market value.
As you can imagine in the worst case scenario you have a fire and the property burns down entirely you will still have the land on which the property is built. Insurers base the rebuild value on between €1,000 to €1,200 a square metre.
So the key to getting your property correctly insured is knowing the covered area of the property.
Your responsibility in the event of a claim
Making a claim
If you find yourself having to make a claim on your policy, consider these tips to make the process easier:
Why would a claim be invalid?
In the event of a claim it may be made invalid for the following reasons:
Once you’ve taken out a policy your insurer will send to us the following:
We will always take scans of these documents for you so that in the event that they are misplaced we will always have a copy here for you.