Each year your insurer increases the value of your property and the size of their premium to allow for inflation. The amount and rate varies from insurer to insurer. Your property should be insured for its reinstatment value. This is the cost of replacing it should it burn to the ground. Building costs have been falling slowly for three years now, so the cost of replacing your home has gone down, not up.
We can provide you with a reinstatement valuation for your property which will save you an average €100 on your next insurance bill. You can even call your existing insurer and ask them to reduce your existing cover and provide you with a credit for the amount overpaid. If they refuse, tell them you will take the business elsewhere on renewal.
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