Comparing house insurance only works when every quote describes the same thing: the same rebuild cost, the same contents total, the same excess and the same extras. Change one of those and a lower price is a different policy, not a better one. The CCPC’s advice is that the policy with the lowest premium is not always the best, and that you should read the policy details before you sign. This guide sets out what to fix before you ask for quotes, what to compare on each one, and what the renewal notice must tell you.
GMIB.ie compares house insurance quotes from a wide panel of insurers, and where the form cannot give a price straight away one of our agents reviews your details and calls you back with the options. The home quote form is at the foot of this page.
Three figures to settle before you compare
The rebuild cost. Buildings cover is based on what it would cost to rebuild the house, not what it would sell for. Insure for the rebuild cost and use the Society of Chartered Surveyors Ireland’s House Rebuild Calculator for current costs; the SCSI describes its figures as a minimum base for estate-type houses. If you over-insure you pay a higher premium for no extra benefit, and if you under-insure a claim may not be paid in full. Our guide to house rebuild cost and sum insured walks through the calculator. Use the same figure on every quote.
The contents total. Insure contents for the full cost of replacing everything, include carpets and curtains, check whether the garage and shed are covered, and list valuable items separately where a single-item limit would otherwise apply. Many policies carry an average clause: insure three-quarters of the value and the insurer pays three-quarters of a claim. The CCPC publishes a contents checklist to help with the total.
The excess. This is the amount you pay towards any claim before the insurer pays the balance, and claims below it cannot be made. The CCPC notes that the excess for subsidence is usually higher than for other claims, and that agreeing to a higher excess can earn a discount. Decide the excess you would be comfortable paying, then ask for every quote on that figure.
What to compare on each quote
Buildings cover. The CCPC lists what buildings insurance usually includes: the structure, permanent fittings such as fitted kitchens and bathrooms, garages and outbuildings, garden walls, gates and fences, and the cost of moving out if the house cannot be lived in. It also lists what is usually excluded: storm damage to gates and fences, flooding or subsidence where the house is in an area where they are likely, wear and tear, and damage caused by someone working in your home unless they carry their own public liability insurance. Check both lists on each policy rather than assuming they match.
Contents cover. Compare whether items are replaced new for old and up to what limits, whether accidental damage to household equipment is included or costs extra, and what the cash limit is. The CCPC notes that contents policies usually exclude losses while the home is left empty for more than a set period, often 30 days, and money or valuables taken from a home that was not properly secured.
All-risks and liability. All-risks cover is an optional extra for valuables inside and outside the home, with a single-item limit on unspecified items and the option to specify items worth more than that limit. The CCPC says most policies include liability cover up to set limits for injury to a visitor or tradesperson, or damage you cause to someone else’s property. Compare the limits, not just the presence of the cover.
Discounts. The CCPC’s list of discounts you may qualify for includes three years without a claim, an alarm, with more for a monitored one, smoke detectors, security locks, an applicant or resident over 40 or 50, non-smokers, someone usually at home during the day, a neighbourhood watch area, and holding another policy with the same company. Ask for the same discounts on every quote so the prices stay comparable.
The renewal notice. The CCPC explains that your insurer must send a renewal notice at least 20 days before the renewal date, showing the premiums paid over the previous five years and any claims paid in that time. That notice is the baseline for comparing your renewal offer against new quotes. If you switch, the CCPC’s steps are to tell your current insurer in writing, cancel the direct debit and complete the new insurer’s paperwork; there is a 14-day cooling-off period from the start of the new contract.
Answer every question fully. The Consumer Insurance Contracts Act 2019 requires answers that are honest and given with reasonable care, and the CCPC notes that an insurer cannot refuse a claim because of a genuine mistake or incomplete information, but can cancel the policy and refuse a claim if the information was fraudulent. Our house insurance page covers buildings and contents cover in more detail, and our agents can talk through the options on 0818 92 92 42, Monday to Friday, 9am to 5.30pm.
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Every quote is based on the same rebuild cost, the same contents total, the same excess and the same optional extras, so the only thing that differs is the price and the policy wording. If one quote is lower because it carries a higher excess or leaves out accidental damage, it is a different policy rather than a better price.
Three figures: the rebuild cost of the house, from the SCSI House Rebuild Calculator or a chartered surveyor for a one-off or period house; the full replacement cost of your contents; and the excess you are prepared to pay.
Ask your insurer for it. It must be sent at least 20 days before the renewal date, and the point of that gap is to give you time to compare. If you are close to the renewal date without a notice, get new quotes anyway so you are not left choosing between the renewal offer and nothing.
Check your policy terms for cancellation charges and how any refund is worked out before switching mid-term; many people wait for renewal for that reason. If you switch and then change your mind, there is a 14-day cooling-off period from the start of the new contract, during which you can cancel and get a full refund.
Usually not as an individual policy. The CCPC notes that where you pay management fees, buildings insurance is usually covered within the fees, but you should still consider your own contents insurance. Check with the management company before you compare quotes.
Both are on the CCPC’s list of discounts you may qualify for, with a larger discount for a monitored alarm. Discounts vary by insurer, so mention every security feature on every quote and let the prices show the difference.
