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Home Insurance Northern Ireland Explained

It absolutely does not matter whether you live in a studio flat in Belfast, or a six-bedroom house in Malone, there is no doubt that your home is your castle. In the event something should go wrong, it is super-important that you have done everything possible to prepare for this eventuality. First and foremost is making sure that you have the protection in the form of a good NI Home Insurance policy.

What if there was a storm, and your roof was damaged, or a fire? Would you have the ability to pay for these repairs? Do you have any idea where you would live if because of these events your home was uninhabitable? Your home no doubt will contain some of your most valuable possessions. Should you be the unfortunate target of burglars, could you afford to replace your jewellery collection or your flat-screen TV?. This is why  

Is House Insurance Mandatory in Northern Ireland?

House insurance is not a legal requirement in Northern Ireland. However, if you have secured a loan to purchase the house, the lending company will likely have made it a condition that the borrower must take out house insurance to cover rebuilding costs. 

How much is the Average House Insurance in Northern Ireland?

The cost of home insurance in NI varies depending on a number of factors that include the risk of flooding, subsidence and crime rates. As such, rural areas will pay less than those living in built up regions of NI.  With recent hikes in inflation, expect to pay in the region of £150 - to £250 for a standard home in NI.

Types of cover and how much cover is recommended?

A fire is always devastating, and it could burn your house to the ground. It is advisable to carry enough insurance to cover the cost of rebuilding your home. Here, it is important to remember that the rebuild cost will never be the same as what you paid for the house or the current market value.

Do your due-diligence and make sure you work out an accurate rebuild cost. Not doing this could not only cause you to pay for cover you do not need, or worse yet, you could find yourself with an insurance shortfall, and wind up with a big bill.

Some NI insurance companies and brokers offer unlimited cover, which simply means that they will pay out, whatever the cost. Although this sounds great, it’s important to bear in mind that this often times can work out to be more expensive. Sometimes they might calculate a sum based on property type and location, and the number of bedrooms. It’s always a good idea to check the accuracy of this number yourself, the details of which should be in your policy documents.

Regular review of rebuilding costs, to ensure the figure is up-to-date (as prices inevitably change over time) is highly recommended by industry experts. In addition, you may have renovated or extended your home. This also can affect the re-build cost and the resulting costs of home insurance in Northern Ireland.

How about the contents of my house, will these also be covered?

In addition to insuring the actual structure, you will also have the option to insure its contents against loss or damage. This damage can be caused by lightning, storms, fire, flooding, or other water leakage.

Your possessions (the contents) are often times more valuable than you may think. Undoubtedly, the best way to ensure that you have adequate contents insurance is to literally walk around your house and compile an inventory of your possessions. Take your time and be precise, as these items can add up to a tidy sum. Contents include furniture, carpets, curtains, and clothes. Make it a point not to forget the contents of your shed.

The importance of this figure cannot be under-stated. This will be part of the total amount the insurer will pay should you need to make a claim on your NI Home Insurance policy.

Is my House insured if I go on an extended holiday?

Most if not all home insurance polices will include a clause related to leaving the property unoccupied for an extended period of time. For some policyholders, it may come as a surprise to learn that their house cover could become invalid if the property has been left empty for 30 days or longer.  Some providers are more generous, but all will have limits. If you have a property that will be left empty, or you are in charge of during probate, speak with the current insurance company to make sure it will be covered if the property is left empty for an extended period (normally over 30 days)

Do I need to insure an Empty Property?

The choice to insure an empty property is optional from a legal perspective, but leaving any property without insurance will put you at financial risk if any damage occurs when the property is empty. Leaving a property empty will also make it higher risk to vandalism and theft than a property that is being lived in.   

What can invalidate a Home Insurance policy

Similar to car insurance NI, it is possible to invalidate house insurance, one obvious example is to leave the doors and window open. If you have been given a preferential quote based on having installed an alarm system but fail to use it, this may also cause your house insurance provider to refuse cover. Please check the policy for a complete list of possible exclusions. A key safe that has not been approved can also cause your provider to refuse any payout should you need to claim.

Compare Home Cover NI 

Finding the best deal on home cover involves comparing all the available options currently on the marketplace. Insurance Quotes NI can help by providing you with multiple home insurance NI quotes with our partner quote zone. Simply select the Compare Now and enter some basic details to start receiving a choice of quotes.