Home insurance is something many people renew year after year. Its real cost is more than this year’s premium: it includes what you pay over time and what the policy would pay if you needed to claim. Comparing plans on that basis means reading the details as well as the quote.
This guide looks at how to judge long-term value when comparing home insurance in Ireland, and which types of cover homeowners may need.
Comparing home insurance providers and costs
What shapes the cost over time
Your no-claims discount. Where a policy offers one, claim-free years may reduce the price at renewal. A claim may affect that discount or future premiums, so consider the excess and likely payment before claiming for minor damage. Ask your provider how a claim would affect your own policy.
Your excess. A higher voluntary excess may lower the annual premium. Check you could afford it if you needed to claim, and look for separate excesses on particular types of loss.
Indexation. Some insurers raise buildings and contents sums insured at renewal to reflect inflation. This can help cover rising rebuild and replacement costs, but the adjusted figures may still not fit your home. Review them yourself, especially after an extension, renovation or major purchase.
Getting your sums insured right. If you underinsure, your claim may be reduced. If you overinsure, you may pay a higher premium without getting a larger claim payment. The CCPC’s home insurance guide explains both risks.
Features that matter when you claim
Compare these as well as the premium:
- New-for-old contents cover: replacement with comparable new items, subject to conditions and limits.
- Single-item and valuables limits: expensive jewellery, watches or other items may need to be specified individually.
- Personal possessions away from home: check whether phones, laptops, jewellery or bikes are covered outside.
- Accidental damage: whether it applies to buildings, contents or both, and whether it costs extra.
- Liability: the scope and limit for covered claims involving visitors or others.
- Home emergency assistance: what urgent repairs it covers and whether it is part of the policy or a separate product.
How to read a policy before you buy
Start with the independent CCPC home insurance guide. Then read each quote’s documents in this order:
- The Insurance Product Information Document (IPID), a standardised summary of the policy.
- Definitions of terms such as “buildings”, “contents” and “unoccupied”.
- Exclusions and limits for each section of cover.
- Conditions, including maintenance and unoccupancy requirements.
- Your schedule, which shows sums insured, optional cover and the excesses that apply.
This makes differences between policies easier to spot.
Keeping an eye on value at renewal
Your renewal notice must show the premiums you paid for the previous five years where that history exists. Use it to track the price, but also check what has changed in your home and the cover. Central Bank rules prohibit a later renewal price for home insurance being higher than the equivalent first-renewal price solely because you have stayed with the provider. That does not freeze your premium: your risk, claims history and wider pricing can still change. Compare fresh quotes each year.
If managing fewer providers suits you, AA Ireland offers home insurance alongside car, travel and pet insurance. Each is a separate policy with its own terms.
Essential insurance for Irish homeowners
For homebuyers with a mortgage, two types of cover usually matter before drawdown. Others are optional and depend on your circumstances. See our guide to home insurance requirements for more detail.
If you have a mortgage
Mortgage protection insurance. This life insurance is intended to clear the outstanding mortgage if a covered borrower dies during the term. Section 126 of the Consumer Credit Act 1995 generally requires lenders to ensure it is in place, subject to exemptions, including certain age, health and occupancy circumstances. Check your lender’s requirements.
Buildings insurance. This covers the structure against insured events. It is not generally required by law, but mortgage lenders usually make it a condition of the loan. In a managed apartment block, the owners’ management company normally arranges buildings insurance through the service charge; confirm the block policy and lender requirements.
Worth considering beyond the basics
- Contents insurance covers belongings and can be bought separately or alongside buildings cover.
- Personal possessions or all-risks cover may protect valuables you take outside the home, subject to limits.
- Income protection can replace part of your income if illness or disability prevents you working, under the policy terms.
- Specified illness cover can pay a lump sum following diagnosis of an illness named in the policy.
- Life insurance beyond the mortgage may help support people who depend on your income.
The suitability of income protection, specified illness and life cover depends on your circumstances, so consider regulated financial advice if you need help comparing them.
Where to get house insurance in Ireland
You can buy directly from an insurer, use an insurance broker or compare through a comparison site. Check how much of the market each route covers. You can get an AA Home Insurance quote online.
Frequently asked questions
Is it worth claiming on home insurance for small amounts?
It depends on the claim, your excess and whether it could affect your discount or future premium. Work out the likely payment after the excess, and ask your provider what effect a claim may have before deciding.
What is indexation on home insurance?
Indexation is an adjustment to your buildings or contents sums insured at renewal to reflect rising costs. Check the new figures yourself, particularly after building work or major purchases, because a general increase may not match your property.
What does new-for-old mean on a home insurance policy?
It generally means a damaged or stolen item is replaced with a comparable new one rather than valued at its second-hand price. Limits and exceptions can apply to particular contents, so read the policy wording.
Where can I get house insurance in Ireland?
You can approach an insurer directly, use a broker or compare through a comparison website. Check the firm’s authorisation on the Central Bank of Ireland register and read the documents for the policy you choose.
If you would like to see how our cover compares, get an AA Home Insurance quote based on your home and circumstances.
