Home insurance costs fall 16% as savvy consumers reassess cover

Home insurance costs fell 16% last year as cash-strapped consumers reassess their insurance needs to ensure they are not paying over the odds.

According to a study carried out by getcover.ie, economic circumstances and a general tightening of the purse strings have seen consumers give more consideration to their home insurance needs, with many revising downwards sums insured as rebuild costs decrease.

Louise Ledwidge of Getcover.ie said the reassessment of sums insured inevitably led to a reduction in cover last year.