According to Deirdre McCarthy of Insuremyhouse.ie, there has always been a lot of confusion when it comes to how to value your home insurance. Rather than focusing on the sale price, you need to look at the rebuild cost of your house. The Society of Chartered Surveyors has a useful calculator on its website that will give you a good indication of this cost. Once you have worked this out then you must look at valuing your contents.
All this week, The Pat Kenny Show is working to get our listeners ‘More Bang for your Buck.’
Today, we looked at ways to save on car insurance with Jonathan Hehir, Managing Director of the CFM group, which runs websites like of InsureMyCars.ie.
https://www.newstalk.com/the-pat-kenny-show/bang-buck-car-insurance-1020533
Three in 10 Irish homeowners believe they will still be paying off their mortgage when they are in retirement, a new survey from insurer Royal London has found.
Around 29% of 1,000 respondents to the survey predicted that they would be repaying their mortgage when they reach 65 and over, while just 38% of people said they will have repaid their mortgage before they reach 60.
‘Mortgage debt is the biggest form of credit that most people will ever have in their lives,’ Royal London’s Joe Charles said. ‘First Time Buyers are getting older, and it’s not uncommon to see people in their mid-thirties entering large value, 35-year mortgages.
Jonathan Hehir, Managing Director of Insuremyvan.ie and Insuremycars.ie says anybody who is close to renewal should consider carefully if it is time to move, and should take into account which insurers are offering refunds or rebates and which are not.
They can also use the time at home to research the best deal.
Deirdre McCarthy of Insuremyhouse.ie says “People can often be slow to change home insurers, particularly now when everything around us seems so uncertain. The best advice is to use any spare time you have on your hands at the moment to shop around and do some comparisons. You could be looking at a difference of anywhere from €50 to €150 between the various insurance providers.”
Jerry speaks to Jonathan Hehir from InsureMyVan.ie about the issue of insurance. There have been calls on all insurers to offer refunds or reduce future premiums due to travel restrictions instigated because of the pandemic.
https://www.radiokerry.ie/refunds-motor-insurance-april-27th-2020/
According to Dermot Goode, health insurance expert at Total Health Cover, for those on a typical “high-tech” plan with this insurer, it could mean a reduction of €785 per adult. “Someone on a good mid-level plan, such as 4D Health 2, would see a reduction of approximately €165 per adult.”
As the Minister calls for motor insurers to be “pro-active and generous in relation to their treatment of motor insurance policyholders” during Covid-19, leading insurance broker Jonathan Hehir of Insuremycars.ie and Coverinaclick.ie says motor claims are well down and that the notification of claims has “dropped to the floor.”
Dermot Goode of Totalhealthcover.ie says “There are numerous tactics available to potentially reduce the cost and still maintain a good standard of cover. Irish Life Health and Laya Healthcare have always allowed their customers to revise their cover mid-year, if necessary, without penalty, and we understand that VHI will be equally flexible for any “distressed customers” who have been temporarily laid off or are facing reduced income.”
Dermot Goode of Totalhealthcover.ie advises policy holders to talk to their insurer in the first instance.
He notes that Irish Life Health and Laya have always allowed customers to revise their cover mid-year, if necessary, without penalty. He expects VHI would be equally flexible for any customers facing reduced income as a result of the pandemic.
https://www.rte.ie/news/business/2020/0410/1129803-budgeting-through-the-covid-19-crisis/
