The price of home insurance is determined by various parameters. How exactly is it fixed, how to reduce the price of your comprehensive home insurance? Learn how to save money with our guide.
In Ireland, the average price of home insurance is € 228.34 per year. The prices vary greatly from one region to another. But it is also the choice of your formula that will impact the price. Indeed, there are a number of formulas with, most of the time, basic guarantees to which are added optional guarantees.
In general, home insurance includes:
- Civil liability;
- Fire, water damage, glass breakage, theft, and natural disaster cover.
Then, you are free to customize your offer according to your real needs. Because the choice of home insurance must be determined according to the place of life. The average price of home insurance for a T3 apartment will be different from that of a T5 house with an outbuilding and swimming pool.
Among the many optional coverages that you can subscribe to, include the following:
Theft guarantee for property located in outbuildings (lawnmower, sports equipment, expensive bottles of wine, etc.);
Guarantee of professional goods if you work from home for example;
- Electrical damage to equipment;
- New refurbishment;
- Loss of food in the fridge and freezer;
- Juridical protection;
- Attack, etc.
You have the option, depending on the insurance company, to subscribe to a basic guarantee and to add optional guarantees, or to choose from ready-made formulas with more or fewer guarantees.
How is the price of home insurance set?
The price of House Insurance Ireland is determined based on the risk calculated by the company. For home insurance, the premium will be calculated according to 4 essential criteria, namely:
Your profile (depending on whether you are a tenant, owner occupying or not occupying, whether you have declared number of claims or not, etc.);
- The value of the goods you declared;
- Your place of residence (region, sensitive neighborhood, countryside, etc.);
- The nature of the accommodation (house, apartment, area, etc.).
How to reduce the price of home insurance?
There are different ways to lower the price of your home insurance. On the one hand, you can play on guarantees. Naturally, the more you are protected, the more you will pay dearly. On the other hand, you can opt for home insurance with deductible: the price of the annual premium is then lower.
But if you want to be fully protected while controlling your budget, we can only advise you to consult an expert. Indeed, insurance prices are completely free, a professional in this field will allow you to find the best home insurance at the best value for money without compromising on your guarantees. You will then be more serene with perfectly insured accommodation in the event of a claim.
What are the elements that influence the home insurance premium?
When you buy house insurance, different parameters will be taken into account to estimate the price of your home insurance. Here is a non-exhaustive list of points to check before signing:
- The nature of the guarantees;
- Options subscribed;
- Whether or not there is a franchise;
- Reimbursement limits;
- The period during which the accommodation is insured even if you do not live there;
- The value of the insured objects;
- The location of your accommodation;
- The value of your property, etc.
How to use price comparison for home insurance?
There are different ways to use a comparator. The first is to enter information about your profile on insurers’ websites and receive quotes to find the best price for your home liability insurance. What is the price of home insurance for a tenant?
The price of home insurance for a tenant is difficult to establish with precision. Indeed, as mentioned in this guide, the estimate of the price of home insurance depends on various factors such as the profile, the value of the goods, the location of the property and its nature.