Home Insurance Virgin

C

cubaboy

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I bought my first home last year with the help of a mortgage broker. since he handled all the paper work I don't have a clue what quesions to ask now that home insurance is coming up for renewal. I'vd got a renewal notice which indicates that contents are not covered in my current policy. Obviously I want them covered, but what value do I put on them, do I over estimate or under estimate. I realise there will be a lot of phoning around but any helpful hints you could give me regarding what I should look out for would be hugely appreciated.
 
You have to be as accurate as possible. Under insuring leads to problems in a claim and over insuring is a waste of money.

Is there €5/€6K worth of moveable contents in each room?
 
Many insurance companies will have a minimum contents cover - usually 15% of the buildings cover. So a 200,000 house would need 30000 contents cover. When you add up all your appliances, clothes, furniture, tv,computers you won't be slow in getting to that kind of figure.

I was getting quotes myself yesterday - Ulster Bank and Allianz were two of the cheapest I found. Went with Ulster because the excess was lower and they let you pay monthly at no extra cost.
€380 for buildings cover 215000 and contents 33000
 
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