Tuesday 25 September 2018

Homeowners losing out due to insurance claims 'phobia'

Local Property Tax figures for 2017 have been published
Local Property Tax figures for 2017 have been published
Charlie Weston

Charlie Weston

Homeowners are missing out on thousands of euro because of a phobia about making insurance claims.

A new survey found that large numbers of people avoid making an insurance claim as they fear losing their no-claims bonus.

The survey, conducted by Ignite Research for Post Insurance, found 62pc of homeowners did not make a claim because of fears it would negatively impact on the cost of their premium.

People from larger towns and cities are more reluctant to make a claim than those in rural areas.

Many people believed they would lose their no-claims bonus by making a claim.

Others felt it was not worth the time and effort to claim for damage, theft or loss from their insurer.

Rural dwellers are more likely to submit an insurance claim.

People over 55 are very likely to claim amounts of between €2,000 and €3,000.

The survey was commissioned to coincide with Post Insurance, a subsidiary of An Post, launching an added benefit on its cover, offering no-claims discount protection on new and renewed policies.

The new benefit allows policyholders to make one claim worth up to €5,000 in a three-year period without losing their no-claims discount.

Irish Independent

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