Homeowners face 20% hike for house insurance as rebuild costs soar

The national average rebuild costs of a house have increased by 21% in the last year. Picture: Denis Minihane

Homeowners are having to pay up to 20% more to insure their properties as the cost of rebuilding homes has risen by more than €50,000 in the past year.

Householders already struggling with the spiralling costs of living are being quoted hundreds of euro more than last year to renew their buildings and contents insurance.