Survey shows home insurance costs on the rise

The cost of home insurance has risen by around €30 since the beginning of the year, according to a new survey from AA Ireland.

The average price of a combined home insurance policy increased from €466 in the first quarter, to €494 between April and June, a 6% rise.

The survey analysed over 1,800 quotes sourced from nine different insurance providers.

“While home insurance premiums have increased since the beginning of the year, homeowners are still getting value for money when you think of it in the context of the two consecutive bad winters

we’ve had and the damage they caused to Irish homes.” saidJohn Farrell, Director of AA Ireland Insurance.

“Last December alone insurers in Ireland dealt with almost 25,000 claims from private households, the majority relating to burst pipes.

"Considering the pressure this volume of claims has placed on the industry and concerns about what the coming winter has in store, I would consider last quarter’s increase to be a necessary evil.”