Consumers can save up to €400 a year by shopping around for home insurance, according to the latest cost comparison from the Financial Regulator.
Homeowners can also avail of a wide range of discounts on insurance by providing as much information as possible, the regulator has advised.
Mary O’Dea, consumer director, said consumers may not be aware of the range of discounts available from some companies. These include discounts: for having no previous claims, or being claims-free for five years; if someone over 50 is living in the house; for non-smokers; having an alarm; and having home and motor insurance with the same company.
Discounts may also be available for having smoke alarms, being in a neighbourhood watch scheme, living in a new house or buying a policy online.
Ms O'Dea commented: "When you request a quote, the questions you will be asked can vary, depending on the provider and the agent you talk to on the day, so it is important to be proactive and offer as much information as possible to make sure you get any discounts that apply".
"With many people feeling the pinch right now, it is more important than ever for consumers to exercise their buying power and to make better choices about financial products."
She said there were three things consumers should always do when getting insurance: haggle when negotiating with your insurance providers, look for better value elsewhere, and ask for discounts when getting quotes.
The online home insurance cost comparisons feature nine profiles for homes in Clare, Donegal, Dublin, Kerry, Leitrim, Louth, Mayo and Wexford.
They show that consumers can make significant savings on their home insurance premiums of almost €400, simply by shopping around.
The cost comparisons, which can be viewed on itsyourmoney.ie, also show the excess and the additional features that apply to each policy, making it easier to compare the policies and find the best value.
