Home Insurance tripled

S

stefanop

Registered User
Messages
65
Hello

The AXA Insurance premiums for my 4 bedrooms standard 120sq meters semidetached house in Dublin 14 keeps on increasing:
2019 = 213€
2020 = 231€
2021 = 266€
2022 = 338€
2023 = 445€
2024 = 552€

Compared to a similar (holiday) house that I have in Italy
2019 = 209€
2020 = 217€
2021 = 223€
2022 = 223€
2023 = 245€
2024 = 252€

I never had a claim or changed the coverage ratios, (the content has always been at 30000€.)
I will shop around for a better alternative but I wonder if the SCSI calculator is still reliable

SCSI House Rebuild Calculator – Society of Chartered Surveyors Ireland

scsi.ie scsi.ie
For Dublin semidetached it proposes a quote of 2939€ per square meter for the rebuilding cost. Total 352000€
Is this reliable ? AXA put 595977€ as the "Building Sum Insured"

Thanks
Stefano
 
stefanop said:
Hello

The AXA Insurance premiums for my 4 bedrooms standard 120sq meters semidetached house in Dublin 14 keeps on increasing:
2019 = 213€
2020 = 231€
2021 = 266€
2022 = 338€
2023 = 445€
2024 = 552€
Click to expand...
Why did you keep going back to them if they were constantly increasing the premium? Most insurers and other service providers penalise loyal customers by automatically charging them more each year.
stefanop said:
I will shop around for a better alternative
Click to expand...
Ideally you should do that every year.
stefanop said:
but I wonder if the SCSI calculator is still reliable
Click to expand...
It's the best estimator out there as far as I know but, short of a professional reinstatement cost valuation, you'll have to use it and maybe add appropriate padding for anything specific and out of the ordinary with your property.
stefanop said:
AXA put 595977€ as the "Building Sum Insured
Click to expand...
They probably just took your original buildings value from 2019 and indexed it over the years to arrive at that figure. It doesn't really mean anything and isn't necessarily an accurate estimate of the actual rebuilding cost.
 
Last edited:
Home insurance in Ireland has risen by a little over 10% in the last five years. See the index below.

Your quotes above seem out of line with this.

Do shop around.


fredgraph.png
 
I've been pleasantly surprised this year. I paid something like 335 last year with Liberty. Got an email a few days ago to say this years quote is 303. They have automatically raised my rebuild amount by a few % to match inflation.
 
I have been shocked by the increases in my premium this year - gone from 448 to 701. No claims, no specified high value items, no accidental damage, nothing changed at all. I've tried every insurance company - using different devices and email addresses and they're all just nuts.
 
cbleahen said:
I have been shocked by the increases in my premium this year - gone from 448 to 701. No claims, no specified high value items, no accidental damage, nothing changed at all. I've tried every insurance company - using different devices and email addresses and they're all just nuts.
Click to expand...
And they're all coming up with c. €700?
That sounds implausible to me.
Try a broker?
By the way, using different email addresses/devices is almost certainly pointless and has no impact.
 
ClubMan said:
And they're all coming up with c. €700?
That sounds implausible to me.
Try a broker?
By the way, using different email addresses/devices is almost certainly pointless and has no impact.
Click to expand...
Thanks for your response - sounds implausible to me too!

Bigger names insurers - Aviva 720, Supervalue 1089, Allianz 771, Zurich 1171, Axa 790, AIB/AXA 1115, BOI 790, FBD 770.....
Tried online comparison sites (switcher, bonkers, one big switch, chill) - all similar prices to pricing directly.
Tried two brokers, one local and one online - 757

Rebuild as per the SCSI, 4bed bungalow, nothing gold plated, 'normal' area, not listed, no claims, no flat or thatched roof, excess 1000 across board. Mates down the road about 6km, in a house twice this size of similar age, with a gang of kids and lots of high value items are getting quotes of 500. I just can't figure it out.

I have slightly lower quotes with Redclick and Outsurance but wary as they're newer to the. market afaik - still coming in over 600.

Contemplating just getting buildings cover at this stage.
 
ClubMan said:
It won't be €39.99 for 12 months because they have an annual price increase policy:
www.eir.ie

Annual price change

www.eir.ie www.eir.ie
You presumably have 14 days cooling off to cancel and go elsewhere without penalty if you choose to do so.
www.bonkers.ie

guides.categories.broadband-tv-phone.name articles

guides.categories.broadband-tv-phone.description
www.bonkers.ie www.bonkers.ie
Click to expand...

JohnJay said:
I've been pleasantly surprised this year. I paid something like 335 last year with Liberty. Got an email a few days ago to say this years quote is 303. They have automatically raised my rebuild amount by a few % to match inflation.
Click to expand...
I did a few more online quotes over the weekend and all were well over 400 for the same level of cover. I can never understand the insurance world though. When I lived in my old house, FBD were almost never beatable, but now that I have moved a few postcodes away they always give me a crazy quote.
 
Yea same here my insurance renewal has increased dramatically from 300 in 2023, 380 in 2024 and 450 euros for 2025. When I try other insurance quotes I get even more expensive quotes. It's only 3 bedroom bungalow, never had any claims?
 
One thing to check is if the policy is written on an accidental damage basis i.e. the usual perils and accidental damage.
I always check this at renewal as we had a problem with a less than efficient broker who failed to spot that one a few years ago.
If you went the other way and had accidental cover added by mistake that could bang up the premium !
 
I got my home insurance renewal last Friday. Went up by 17% this year. All rises in the last 10 years have been very modest. This year is the first big jump since I signed up with them in 2015.
I never claimed for anything since I bought this place 43 years ago.
I cannot shop around because Allianz is the only insurance company which accepts houses older than 100 years if those places have been reroofed, rewired and replumbed in the last 30 years.
 
AI tells you anything. These are all brokers offering something which does not exist as soon as you nail them. Premiums are sky high and I do not own a castle- just a simple cottage built around 1875. Nothing protected or a listed heritage building.
I was talking about an insurance for an ordinary Joe Soap with his hovel. Allianz were already reluctant to take me on in 2015 and only agreed after I confirmed that there was a lot of renovation work done. Before Allianz, I was with Hibernian. But their premium had reached Euro 900 at that time- even with a proven record of many years of no claims and an applied reduction to their maximum years. My broker phoned them and asked for a better offer. I had been the perfect customer- never any claims, premium paid in time and all repair work done at my own cost. And I would not claim for anything until the place would be totally destroyed by a fire or a violent storm. No use....
I have reached a reduction level of 9+ years will Allianz - they do not offer any higher reduction.
It is funny to see the neighbour down the road having no problems with his house to get a good quote- big cracks all over the place, slates becoming loose and plastic cladding breaking up. His place was only built in 1998.
The excuse I am always getting is "that I do not fit their customer profile"!
 
I cannot shop around because Allianz is the only insurance company which accepts houses older than 100 years if those places have been reroofed, rewired and replumbed in the last 30 years.
Click to expand...
I'm in the same boat with a pre 1900's cottage that has been refurbished.
If you are with Allianz direct - I'd get a quote with some brokers that offer Allianz policies, Gallagher, Chill, etc. - You could get a reduction getting quotes through these.
topinsure.ie also offered a policy on older properties through Frost Insurance - was on this last year but premium jumped this year.
 
You must log in or register to reply here.
Back
Top