Cut Your Home Insurance Costs
The latest price comparison on home insurance by the financial regulator was carried out in December 2009. Their survey of house insurance quotes was fairly limited and does not include online brokers . Only nine quotes were sought on four different properties. Even so – it still highlights that you can cut insurance costs by shopping around.
In one example – there was a difference in price of almost €300 a year . This was on a 3 bedroom semi-detached house in Dublin 5. with a rebuilding cost of €234,000 and contents worth €46,800 . The highest quote for buildings and contents cover was from Axa at €693 a year. The lowest quote was for €398 at Lloyds via getcover.com. This is a difference of almost 100% – and the excess was €75 less with the lower priced quote.
Comparing quotes for contents only insurance showed up a massive difference of 380% between the highest and lowest price. The lowest price for insuring contents worth €32000 was just €75 from FBD Insurance (200 excess) . The highest quote was from Zurich at €286 (250 excess)
Insurance quotes for buildings insurance on a farmhouse worth 210,000 ranged from €288 to €453 – a difference of €165. In this case the lowest price was from Quinn Direct and the highest from Royal Sun Alliance.