And what it covers
Home Insurance is a property insurance which covers private homes, buildings and contents. AA Home Insurance will provide you cover against losses such as fire, storm, flood and theft occurring to your home and its contents. All AA Home Insurance policies include accidental damage cover as standard which means that if you spill paint on your carpet or accidentally break a window you are covered. In addition, you can choose to extend cover for personal possessions outside the home, such as a laptop or jewellery.
There is also an owner’s liability extension under the home insurance policy which covers amounts you may legally have to pay in respect of accidental damage, illness, injury or death of any person or their property. For example, if a visitor to your home has a slip or a fall and you are liable as the owner of the property, you are covered for the amount of any compensation awarded.
The cost of homeowners insurance often depends on what it would cost to rebuild the house and how much it would cost to replace all of the contents of the house.
How long will my Home Insurance policy cover me for?
Your Home Insurance policy will be a term contract for a period of 1 year.
What is an Insurance Premium
The annual payment due to AA is called the Insurance Premium.
What will AA Home Insurance cover me for?
AA Home Insurance includes cover for the following:
- Legal Fees
- Fire, smoke, lightning explosion and earthquake
- Escape of water or oil - burst pipes due to freezing conditions
- Trace and Access - Covers up to €1000 should damage be caused by a repair man in an attempt to trace and access a leak
- Storm or flood
- Theft, malicious persons or vandals
- Rent and Alternative Accommodation – cover for the cost of rent or alternative accommodation up to 50% of the contents sum insured, should your home become uninhabitable by an insured peril under the policy. E.g. Fire, Flood.
- Accidental Damage Cover - cover for accidental damage to buildings or contents. e.g. spilled paint on the carpet
- Fire brigade charges
- Deep freezer contents - cover up to €1,250 in the event of an electrical failure.
- Door lock replacement up to €500.
- Jury Service up to a maximum of €400.
- Visitors, personal effects.
- Fatal Accident Benefit.
- Christmas cover - automatic increase in contents of 10% at Christmas
- Wedding cover
- Unauthorised use of credit cards
- Personal accident cover
- Owner's Liability - provides cover in the event of a visitor to the home injuring themselves or if damage is caused to their property and you are found liable as the owner of the property. E.g. owner's liability would cover you, should a tile fall off your roof and injure a passerby or damage a neighbour's parked car.
- Tenant's liability - this is provided in the event that the policyholder is the tenant of the property. It provides cover for amounts the policyholder is legally liable to pay under the tenancy agreement for damage to the building, decorations and fixtures etc.
- Third Party Liability - provides cover in a personal capacity should you cause injury or damage to another person through your negligence. This also extends to outside the home. E.g. Golf course, collision while cycling a bicycle. It will also cover you as the employer of a domestic employee should you be found liable for injury of loss caused in the course of their employment, for example if a child minder has a fall in your house and injures their back.
Which level of buildings insurance should I take?
When insuring your buildings you are not insuring the sale value of the home as is commonly thought, but the reinstatement or rebuilding cost of your property.
The definition of buildings for insurance purposes is more than just bricks and mortar. It also means anything that is fixed to your property such as a fitted kitchen, flooring, fitted wardrobes, sanitary fixtures as well as garages, sheds, outbuildings, gates and fences etc. Every home is different, however to learn more click here for a guide to rebuilding costs from the Society of Chartered Surveyors which will aide your calculations.
The minimum and maximum building sums insured on an AA Home Insurance policy are:
- Minimum sum insured €130,000.
- Maximum sum insured €1,000,000.
Which levels of contents cover should I choose?
Contents are insured on a new for old basis. The contents sum insured should represent the cost of replacing all items as new.
- Minimum sum insured €15,000.
- Maximum sum insured €150,000.
Do I need to take outbuildings cover with Home Insurance?
The structure of your outbuilding is automatically covered under your building sum insured. AA Home Insurance will automatically cover you for €1,000 of contents in your outbuildings. You can increase this amount to a maximum of €5,000 for a small additional premium. If you use your outbuilding as a home office you can select cover up to 20% of your contents sum insured once the structure is of standard construction and meets the minimum security requirements.
Under my home insurance policy, will additional items be covered outside the home?
Yes, you may choose to cover items, such as your engagement ring, a bike, a laptop outside your home under an all risks extension. You will need to give a full description and value of the item in order to receive a quotation and may be required to produce a valuation should you proceed with the policy.
Can I insure my caravan or mobile home under my home insurance policy?
Yes, you can insure your caravan or mobile home as an add-on to your home policy once it is let for hire. This will cover the structure and contents against all the perils of the policy anywhere in the Republic of Ireland. You are also covered for a maximum of 60 days while travelling outside the Republic of Ireland. This is subject to the geographic limits of the policy – i.e. The Member States of the European Union.
What is policy excess?
An excess is a limitation contained in the policy of an amount of money which will be deducted from the total claim. All policies have an excess and the excess varies under different sections of the policy and for different underwriters.
Buildings are defined as:
“The home, fitted kitchens, fitted furniture, decorations, sanitary fixtures, its domestic outbuildings, garages, greenhouses, swimming pools, tennis courts, patios, terraces, drives, footpaths, walls, gates, hedges, fences, aerials, satellite aerials and their fittings and masts all at the same site.”