Our Home Insurance policy is up for renewal and the sum insured is approximately half the value of the value of the house.
Should the sum insured be equal to the value of the property, reason I ask is obviously building costs and labour have rocketed.
Our policy cost has increased by approx 50 euro per year over last four years to 450 euro.
What should we do? If we double the sum insured will the premium/cost rise in line?
I am slightly confused by home insurance and too sure what is advised, as I don’t want to be caught out in worst case.
Should the sum insured be equal to the value of the property, reason I ask is obviously building costs and labour have rocketed.
Our policy cost has increased by approx 50 euro per year over last four years to 450 euro.
What should we do? If we double the sum insured will the premium/cost rise in line?
I am slightly confused by home insurance and too sure what is advised, as I don’t want to be caught out in worst case.