Consumer Corner: Do I need insurance for my house or apartment?

The Central Bank found that thousands of home-insurance policy holders are paying 32% above average

Should an unforeseen event arise, home insurance offers you both peace of mind as well as potential financial reparations.

You might pay home insurance for all your life and never use it. However, it is essential if you own a home, and you may have to use it.

Make sure you are not overpaying, or indeed underpaying, for it. Premiums are increasing, but homeowners can cut their monthly bills. In Ireland, there are 1.3m home-insurance policy holders. However, thousands of people are paying too much, sometimes by hundreds of euro. The Central Bank of Ireland has calculated that people who have stayed with their home-insurance provider for nine years or more are overpaying by 32%.