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Currency file

Don't pay tourist rates for foreign exchange. A specialist foreign currency dealer can give you a far better rate and save you a lot of money.

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insurance Home insurance - Buildings and contents

life-insurance
Home insurance, otherwise known as Buildings and contents Insurance in Ireland is widely available - BUT it also varies widely in cost.

It is tempting to just renew your current policy but that convenience can cost you dearly. Insurers rely on you taking the easy option.

The Irish Financial Regulator published a survey of Home Insurance costs in 2006. It showed that, for comparable cover:
- Buildings and contents home insurance for a typical 3 bed bungalow would cost 58% more from the dearest insurer than the cheapest!
- For a 2 bed apartment, the difference was even greater at a whopping 111% more - that's well over twice the price!

We recommend ...

Get a minimum of 3 quotes, and preferably 5, before you decide.

Do it by phone and it won't take more than half an hour - but that could save you half your premium - that's a good deal.

Don't assume that because your current home insurer was cheapest last year they still will be this year.

Many insurers offer an "introductory discount" so the odds are your current insurer is not the cheapest.

We recommend ...

By all means get a quote from your mortgage lender but do not buy it without first checking with a specialist broker.

Click here to ask Nick at Life4Less.ie for a quote before deciding - he guarantees that he will save you money and there is no charge for this service.

Remember you have nothing to lose and you will save money for the life of the policy.

insurance Life insurance - Mortgage protection

life-insurance
Mortgage protection insurance - usually Life Insurance or Term Insurance, is usually required in order to ensure that should the borrower die, the loan will be repaid. Of course it's also very good protection for the borrower's family.

Mortgage lenders are very keen to arrange this for you and that certainly is the least hassle way to buy it. However, you may pay dearly for that convenience.

It is rare that the lender's insurance is the best value and remember, you are buying a product for which you will continue to pay monthly for 20 to 30 years - so it is vitally important that you ensure you get the most suitable cover at the best price.
property

Insurance The alternative?

Try an independent insurance broker.

At the moment, we're looking for one we can recommend for Home Insurance.

In the meantime the best advice is, whatever you do, don't accept the quote from your current insurer or your mortgage lender without shopping around!

Disclaimer

Nothing on this site should be construed as financial or legal advice. If in any doubt, we recommend you consult a professional adviser.

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