House Insurance Quote

suzyann

Registered User
Messages
149
Hi
My house insurance renewal quote came just recently - it came to 402 , which is based on a 4 bed semi in the Dublin area - the rebuild is valued at 220K and contents 30K , accidental damage is also included- I also have listed an engagement ring with value of 4500 on the policy. I thought this was quite expensive, so I checked online for a few quotes , I got a quote of 289 euro from 123 Insurance for what seems a similar match to my policy with FBD ( 220 ReBuild, 30 Contents, Accidental Damage, Engagement Ring) - I rang FBD to see if they would match the quote I got from 123 insurance , they said the reason why 123 were cheaper was that they had a number of stipulations in relation to locks on windows/doors , alarms having to be set before they would ever make a payout on a claim...


What are peoples experience with 123 Insurance , are there a number of stipulations which would make payout difficult in the event of a claim?
There is over 110 euro in the difference between the two quotes.

suzyann
 
123.ie are basically a broker. The stipulations all depend on the company they are putting the business with. So if it tells you who it's with then you'd know yourself.
The bigger, more well known companies would be good for cliams. Small, lesser known companies may be stricter especially as you live in Dublin. A good idea would be to go to a broker as their rates would be similar to 123.ie (same companiesetc) and see if they can get you the same quote.
They can tell you exactly who your insurance will be with and what is covered and any exclusions. I don't think it's wise to buy blind.
 
Has anyone used Simply Mortgages, they seem to be best buy according to the press
 
does the insurance company which the broker choose offer the same rate if you called to them direct or do they offer brokers a reduced rate becaause of the volume of business obtained and in view of fact that thebroker does the paper work
 
Depends on the broker. Bigger brokers have better rates bacause of both the reasons mentioned above. They provide a lot of business and (especially for motor) do all the paper work. So their rates tend to be better. There is a broker fee but even so rates and discounts tend to be better. (no staffing costs!)
 
And don't forget that insurance policies differ in terms of the cover offered so don't shop around on price alone but check the policy document terms & conditions too.
 
ive had the same experience....just got a quote in the post from tsb(allianz) for 360...123.ie are offering simillar for 280....
I know its wise to check the terms & conditions but i havent the time...
Probably goin to check out two or three insurance companies and compare...
any suggestions/recommendations on a broker...
 
just read small print in my policy..my windows downstairs should have locks. dont remember stating that they had but in event of a robbery i reckon i could have a problem if they checked the windows...will inform company now just in case. has anybody ever had a problem re a claim doing refused due to non adherence to such matters.
 
Back
Top