Homeowners can save up to €500 a year on their home insurance costs by shopping around, according to a survey conducted by the financial services regulator.
IFSRA's home insurance cost survey is the latest in a series of studies which have highlighted the disparities in the price of basic financial services.
Five of the six featured profiles of average consumers reveal savings of over 50 per cent on annual home insurance costs. Savings range from €85 up to €504 on a range of profiles on homes in Cavan, Kildare, Cork, Offaly, Sligo and Dublin.
The biggest saving in the survey is for a three bed semi detached house in Kildare with a rebuilding cost of €240,000, contents worth €50,000, a previous fire claim for €50,000 and all risks cover of €3,000. By shopping around the homeowner could save €504 on home insurance.
A guide to home insurance has also been published by the regulator and is available on its website by clicking on the link at the bottom of this article.