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Households lose out on up to €700 in savings on home insurance


Stock photo

Stock photo

Stock photo

Householders are missing out on savings by limiting their choice of home insurance providers.

There are around 15 home insurers in Ireland - and quotes from them can vary hugely.

But some people limit themselves to checking out as few as just two insurers when they are renewing their policy, according to iReach research commissioned by broker Insuremyhouse.ie.

Differences in price of between €100 and €700 on a typical home are not unusual, according to Jonathan Hehir of the brokerage.

Mr Hehir said the survey of 1,000 people found 76pc of respondents were missing out on savings.

This is because they just accept the renewal quote they receive from their existing insurer and fail to shop around.

They are also losing out by limiting their choice by going directly to just two or three providers.

Irish Independent