Three counties top home insurance list

Homeowners in Wicklow, Meath, and Dublin have the highest value house contents in the State.

AA Insurance has released details of the value of insured house contents which show that homeowners in Co Wicklow insure contents for an average of €47,960 — up from €46,865 last year.

While there was no change since last year in the top five counties by average contents insured, there was a slight dip in the average value of contents insured in Meath and Dublin.

The average value for Meath fell by over €1,000, from €46,298 in 2015 to €45,246 as of September last, while Dublin homeowners insure their contents for an average of €44,865, down from €44,996 last year.

Homeowners in Kildare and Kilkenny complete the top five, while the average value of insured contents for homes Cork also dropped in the last year, from €41,774 in 2015 to €41,413.

Homeowners in Mayo had the lowest value for contents at €36,599, followed by Leitrim, Roscommon, Westmeath, and Donegal.

AA consumer affairs director Conor Faughnan said it is important to value contents correctly. “People often think the figure is high, but if you are unlucky enough to have a fire or a total loss you would be amazed how much value you have built up over the years and what it would cost to replace it all,” he said.

“If you pick an amount that is too high then you will pay too much in your premium even though an insurance company will only pay you for the value of what you have lost. Insure for too little and an insurance company will reduce the payout proportionately even for a smaller claim.”