Home Insurance for Irish Property

Posted by

It is vital to have home insurance for property that you reside in or own. The past year many Irish citizens have began to get rid of their home insurance due to the pandemic and the need for funds. However, with saving money on insurance you leave out security for your home and valuables. I am going to talk about the importance of home insurance and facts that have to do with it.

People losing their jobs and having their wages cut during the pandemic has led them to think that home insurance is not an important thing to have.  Since most people now work from home, they have considered cancelling home content insurance. Although this makes sense on the surface because you are home to protect your valuables, the premiums for making claims on accidental damage will increase. Home insurance is not just protection from robbery or accidental damage, but it also protects from acts of god. Certain things you need to be protected against can include fires, busted pipes, flooding, or other environmental damage.

The home insurance market is competitive and there are many providers that can fit your needs for home insurance. Most insurance providers pride themselves on paying out and claims and providing good customer service. The Central Bank of Ireland’s’ website allows clients to see what certain providers do and what they offer. Insurance providers are regulated by the Central Bank and are subject to strict requirements on customer claims as well. When filling out insurance information, it is important to tell the truth and enter accurate information. There can be a variety of consequences if your insurer is not aware of your true financial stability.

Insurance providers can also get you with specific loopholes and  they are important to be aware of. If valuables located in your home are stolen while you are out, you would think that insurance should cover it. However, if you do not lock or secure your valuables then the insurance company can invalidate your claim.  Tt is important to be mindful and aware of this when you are leaving home for work or recreational activities. You also have the ability to appeal an insurers decision. If you feel you have been treated unfairly, you are able to submit your case to the Financial Services and Pensions Ombudsman. They will review your issues and get back to you with haste.

Irish citizens must be aware of their rights when looking into home insurance. Many mistakes are made when clients are unaware of their options. Quality insurers should provide documents that show their credibility and it is important to review these articles in full.

Written by John Spurrier, Mortgage Analyst at Online Application