BEST ADVICE FOR BUYING HOME INSURANCE

Here are some tips when buying home insurance, including some cost saving advice:

• BUILDINGS: Your property should be insured for its rebuild cost not the market value. Rebuilding costs have increased substantially over the past 12 to 18 months. There is a handy rebuilding calculator on www.scsi.ie where you can calculate your own property.

Underinsurance can have serious consequences in the event of a claim so it is advisable to review annually and get professional advice from an insurance expert.

• CONTENTS: Remember an item of contents is something that would go with you if you moved house. For example, a dining table is part of contents but a fitted kitchen is part of buildings. You should value your contents for replacement value.

• ACCIDENTAL DAMAGE COVER: This usually covers damage such as spills on carpets or knocking over a television. It can also include glass damage. You may find that you can delete this cover and save money on your renewal. As each insurer in the market would have different definitions and terms, it pays to ask an expert insurance broker such as Healy Insurances.

• REVIEW: Home insurance rates use many data streams so it is crucial to ensure that your details are correct when quoting, such as your Eircode, use of the property (owner occupied, let out etc), intruder and smoke alarms, year of construction and flat roof details, if applicable. At renewal time you should review with your insurance advisor.

• SHOPPING AROUND: When shopping around it is important to understand that direct insurers and banks will only sell their own products and may not be able to offer you choice or advise you on your options. It is also worth noting that you are free to move your home insurance from your mortgage provider, we do this on a regular basis and succeed in securing large savings for these customers.

• USE A BROKER: As experts in home insurance we understand the market conditions and can advise which insurer, or which product, is most suitable for your specific needs. Aside from understanding the discounts that can be achieved in each case, we also negotiate bulk discounts from insurers to get the best prices for our customers.

At Healy Insurances we can search the market for you, review your policy and save you money!