How to Value your House for Home Insurance

Posted on January 31, 2017

Buying Home Insurance

Buying a home insurance policy isn’t mandatory in Ireland, however many home owners choose to buy this type of insurance for added piece of mind and to protect their home in the event of any unforeseen accidents.

Purchasing home insurance can often seem like a daunting task especially for first timers. This can be due to unfamiliarity with the quoting system or being unsure how to calculate the correct value of your home. 

 House with magnifying glass

Valuing Your Home

When you’re purchasing a home insurance policy, it is your responsibility to ensure that the amount that you insure represents the full value of your house.  

Buildings Cover

When purchasing buildings cover, it should cover the full cost of rebuilding your home. You should also include the costs of replacing fixtures and fittings and any additional charges such as planning permission costs, garages or architects. It is important to remember that the cost of rebuilding may be different from the market value of your home. Rebuilding a home is usually cheaper that buying a build house. 

If you need help with calculating your the rebuilding cost of your home, The Society of Chartered Surveyors have a handy tool that you can use. By filling out information about the size of your home and area that you live in, it provides you with a rebuilding cost. You can try it out by clicking here.  

Contents Cover

Contents cover insures the cost of replacing your belongings. You will be paid the price of each product at their current price. If you would like to insure anything that has a value of more than €1500, you must inform your home insurance company of this. In certain cases, depreciation will be deducted from the total value for wear and tear. This applies to:

  • Television sets
  • DVD players 
  • Camcorders
  • Videos
  • Record Players
  • Compact Disc Players
  • Video Recorders
  • Home Computers
  • Laptop Computers
  • Games Consoles

A full list of these can be found in our home insurance policy bookletlaptop

Personal Effects

Personal Effects includes items that you can move easily by carrying or wearing them. These may include, jewellery, phones, watches, laptops, handbags. Any personal effects valued at over €1000 that are temporarily removed from your home, must be specified in your home insurance policy.

For more information regarding KennCo Home Insurance policies, please read our policy booklet.  Get an online Home Insurance quotes instantly through our website or by calling 0818252025.

Disclaimer: The above information is correct at the time of publication on 31 January 2017. Subject to change. 

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