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Home Insurance - Frequently Asked Questions

Our home insurance policy summaries documents (accessible below) briefly outline for you the significant features, benefits, limitations and exclusions of our home insurance policies for owner-occupied private houses, holiday home houses and rental home houses. These summaries do not form part of the policy wordings, which you are recommended to read ( accessible below) before you arrange insurance cover.

Home Cover - Policy Summary
Home Cover - Policy Wording


Holiday Home Cover - Policy Summary
Holiday Home Cover - Policy Wording


Rental Home Cover - Policy Summary
Rental Home Cover - Policy Wording


Cover Assumptions
There are a number of cover assumptions that you will need to read carefully and accept, before a home insurance quotation and/ or cover can be confirmed. The cover assumptions for each of our home insurance products can be accessed here:
   
If you have a question or query relating to any of these cover assumptions that may be material* to your insurance, quotation details please call our Dublin-based Customer Service Team on 1890 27 27 27. (Mon to Fri 9am to 6pm).

(*Material facts are those facts that your insurer would regard as likely to influence the acceptance and
assessment of your risk. If you are in any doubt whether certain facts are material you must disclose them.)

Home Cover Assumptions
Holiday Home Cover Assumptions
Rental Home Cover Assumptions


Excess amounts

Most home insurance policies include a standard buildings and contents excess amount and/or other excess amounts for specified loss or damage event types. An excess is the amount of any loss or damage event that you must pay yourself. Our policy summary documents ( accessible above) set out for you the excess amounts applicable under our home policies. These cover summaries also state those benefits which are not subject to an excess amount.

Residential Home Cover Excess Amounts:
•    Standard €250
•    Water damage €1,000
•    Subsidence damage €1,000
•    Unspecified or Specified All risks €100
•    Pedal Cycle €75

 

Holiday Home or Rental Home Excess Amounts:
Standard €500
Water damage €1,000
Subsidence damage €1,000

Higher Voluntary Excess amounts

It is possible to be voluntarily responsible for an additional increased excess amount, in return for receiving an extra discount off your policy premium. This voluntary additional excess is in addition to the policy excess amounts outlined in the excess amount section above. If you require more information, please call us on 1890 27 27 27.

Wear and Tear not covered

Home Insurance is designed to cover the cost of unexpected losses. It does not cover wear and tear. If your property is not in a good state of repair, your claim may not be paid in full.

Your Sum Insured for Buildings

It is very important to insure your buildings for the correct sum insured amount. The sum insured must be sufficient to reinstate your buildings should they be completely destroyed by an event insured. Please bear in mind that the definition of “buildings” under your policy includes not only the basic structure itself. ( Please refer to our policy wordings for the definition of “buildings”).

The Society of Chartered Surveyors Ireland “Rebuilding Cost Guidelines (2014)” are a helpful starting point for estimating the correct buildings sum insured to select.  
 
When seeking a quotation for home insurance please ensure that you have chosen an adequate sum insured amount to cover reinstatement of your buildings.

Rebuilding Cost Guidelines

Your Sum Insured for Contents

Similarly, it is very important to insure your household contents for the correct amount. When seeking a quotation for home insurance please ensure that you have chosen an adequate sum insured amount to cover replacement of your household contents as new.

Cover restrictions for Unoccupied Residential Houses, Holiday Houses or Rental Houses

Home insurance policies will restrict the cover provided when the home is left unoccupied for a certain length of time, e.g. over 35 consecutive days. Please refer to our home insurance policy summaries and policy wordings ( accessible above) for the cover restrictions that apply if your home, holiday home or rental home is left unoccupied for more than 35 consecutive days

 

 

 

Whilst home insurance is not compulsory, if you have a mortgage then your lender may insist on you securing buildings cover as a condition of the loan. This is simply to ensure that if an event occurs that results in the home being destroyed or severely damaged the rebuilding costs will be met, thus safeguarding their financial investment.

If you own a modern self-contained apartment, your management company will probably arrange the buildings insurance cover for you, but you would need to check with them that this is the case.
So, if you own and occupy your own self-contained apartment, you may only need to arrange “contents only” insurance cover.

Thus finding the money to replace everything following a loss involving buildings and/or contents would be a huge worry if you did not have adequate home insurance cover.  AIG home policies can provide you with that security and peace of mind.

(a)    Buildings
In respect of buildings insurance you need to consider the home in its entirety. That is, the structure of the home itself, including permanent fixtures and fittings, any outbuildings, garages, driveways, patios, paths, fences and gates. In addition, you may need to include permanent swimming pools, tennis courts, and fixed fuel tanks, underground service pipes and cables for which you are legally responsible. Consideration must also be given to the cost of removal of debris, and of professional fees.

(b)    Household contents
Contents comprise everything that you could take with you if you were to move home. It is advisable to go through every room in your home making an inventory of contents including items in cupboards and wardrobes. In addition, you may also have items in your loft or attic, your garage, or garden shed that may need to be included under your contents sum insured.

(c)    Optional covers.
If you have any individual “high-value” portable items that you wish to insure while they are away from your home, you may need to purchase optional all risks cover on a specified or an unspecified item basis. In addition, if you wish to insure a specified pedal cycle, you will need to include pedal cycle cover in your home insurance quotation.

The market value of a house or an apartment is dependent on many factors, including locality, local amenities and a range of other factors of relevance to the prospective purchaser of the property.

The sum insured required for buildings insurance however is related to the current rebuilding costs required to reinstate the property should it be completely destroyed by a fire or other insured event.

The Society of Chartered Surveyors Ireland “Rebuilding Cost Guidelines (2016)” are a helpful starting point for estimating the correct buildings sum insured to select.  
 
Rebuilding Cost Guidelines (2016)

Often however, it may be advisable to engage the independent services of a Chartered Surveyor or a Professional Valuer to advise you on the buildings sum insured appropriate for your property.
The sum insured amount your select for your household contents should cater for replacement of your contents as new.

If you already have home insurance cover in place, you should check your sum insured amounts on a regular basis (at least annually) to ensure that they remain up to date and are adequate to reinstate your buildings and replace your contents.

If you have unspecified or specified items insured under optional All Risks cover, you need to review your list of specified items on a regular basis too. For high-value items of jewellery, for example, you should keep your valuation certificates ( required for any individual item valued over €5,000) up to date and in safe storage so that if an individual item is lost or damaged, you have the relevant evidence to hand to prove the value of that item.

It is highly recommended that you also retain photographic evidence for any high value items that you own and have insured.

Inflation Protection

To protect you against the effects of inflation, your Buildings and Contents sum insured, may be increased in line with an appropriate index* when your policy falls due for renewal. If We do increase your sums insured at renewal time, we will inform you.

*For Buildings, we will consult both the House Rebuilding Cost Index prepared by the Department of the
Environment - http://www.environ.ie/ and the latest guide to house rebuilding costs issued by the Society
of Chartered Surveyors Ireland - http://www.scsi.ie/.

*For Contents, we will consult relevant sections of the Consumer Price Index prepared by the Central Statistics Office - http://www.cso.ie/.

However, we strongly recommend that you review your sums insured on a regular basis (at least annually) to ensure that they remain adequate to meet your insurance protection requirements.

AIG provide home insurance policies for (1) Owner-occupied private dwelling houses or self-contained modern apartment dwellings; (2) Houses owned and used or let out by their owners as holiday homes and (3) Individual private dwelling houses rented out as a single dwelling unit by their owners to a tenant under a rental agreement.


Our policy summary documents (accessible below) briefly outline for you the significant features, benefits, limitations and exclusions of our home insurance policies for owner-occupied private houses, holiday home houses and rental home houses.

Home Cover - Policy Summary
Holiday Home Cover - Policy Summary
Rental Home Cover - Policy Summary

Please call our Dublin-based Customer Service team on 1890 27 27 27 for a quotation or if you have a home insurance query or question.

There are 2 quick and easy ways to arrange home insurance cover with us:

1.    By Phone – If you have obtained a home quotation on-line, you can  arrange cover over the phone
by Calling our Customer Service Team in Dublin on 1890 27 27 27 between 9am and 6pm Mon-Fri.

Your will need your credit card number to hand and your AIG Car Policy Number ( if you wish to avail of our 20% home insurance discount for existing AIG Car Policyholders).

If you require optional All Risks cover for any high-value items and/or Pedal Cycles, you will require the relevant identification description and identification numbers to hand, when you request cover. Also, Valuations are required for any item over €5,000 and security conditions will need to be followed for items of Jewellery over €10,000 in value.

2.    On-Line – If you receive an on-line home quotation, you can arrange cover on-line using one of the premium payment options available.

Yes, you can but an initial “up-front” deposit payment by Credit Card or Debit Card is required.

Yes they can be but only under our Home Cover product for residential homes, once you have purchased “optional all risks cover” on the items concerned. This cover option however, is not available under Holiday Home or Rental Home policies.

Our Home Cover policy wording under “Section 3 – Your Optional all risks Cover”, sets out for you the cover provided, the excess amount applicable and the cover restrictions and limitations that will apply.

Under our Home Cover Plus policy, cover is provided automatically for accidental damage to Personal Computers used for personal use only within the home up to a limit of €1,000. This cover is subject to the standard contents excess amount of €250 per claim.

If you require cover for a Personal Computer valued at more than €1,000, you will need to take out optional All Risks cover on a specified basis for the computer concerned. The All Risks excess of €100 per claim would apply to this Computer item instead of the standard contents excess amount of €250 per claim.

If you require cover for a Laptop Computer away from your home you will need to take out optional All Risks cover on a specified basis for the Laptop concerned. The All Risks excess of €100 per claim would apply to the Laptop item instead of the standard contents excess amount of €250 per claim. To arrange cover on a Laptop, in addition to providing the sum insured amount you require, you will also need to have the Laptop make/model description and the serial number to hand.

Our Home Cover policy wording under “Section 3 – Your Optional all risks Cover”, sets out for you the cover provided, the excess amount applicable and the cover restrictions and limitations that will apply.

Our Home Cover (Essential or Plus)  contents policy section automatically provides cover for Home office equipment up to €3,000 ( under Home Cover Premium limit increased to €6,000) used for occasional clerical work at home and where no business clients visit the home. Please call us if you require your home cover to be extended for any business use other than as described above.

Yes, (including optional accidental damage cover, where this cover option has been purchased). The cover limit for total contents in locked domestic outbuildings is up to €3,000.
Our Policy summary documents (accessible above) outline the cover limits and excess amounts applicable.

Yes, we will cover you, up to an amount of €750, for loss or damage by an insured cause, other than by Accidental Damage (irrespective of whether cover is indicated on Your Schedule), to Contents in the open within the boundaries of your Buildings.
Our Home Cover Plus policy wording “Section 2 – Your Contents Cover” page 31 “Contents in the open” outlines the cover provided. Loss or damage to bicycles in the open are not covered and the standard policy excess amount of €250 applies to every claim.  

Yes you can. Our Rental Home Cover home insurance product may provide you with the cover you require.

Our Rental Home policy summary (accessible above) briefly outlines for you the significant features, benefits, limitations and exclusions of our Rental Home insurance product. Our Rental Home policy wording ( also accessible above) sets out the cover we provide in detail.
You can call our Customer Service Team in Dublin on 1890 27 27 27 between 9am and 6pm Mon-Fri, if you need to discuss your Rental Home insurance requirements in more detail or you may apply for a quotation on-line.

Yes, cover for Visitors and Guests’ property is included under our Home Cover Plus policy. Loss of or damage to the property of visitors and guests other than Paying Guests by an insured cause is included up to a limit of €1,000 of any one loss. (If you purchase Home Cover Premium, this cover limit is increased to €3,000).

Our Home Cover Plus policy wording “Section 2 – Your Contents Cover” page 33 “Visitors and Guests’ Property” outlines the cover provided.  

Only if you have signed an agreement with the school to insure the item i.e. you have accepted legal responsibility for the musical instrument. It may be the case however, that the school has put in place insurance cover for the item. You would need to verify this fact with the school, before making any decision to insure the item.

If you are required to insure the musical instrument and your child takes it out of the home you will need to purchase optional All Risks cover on the item under your Home Cover insurance policy. You will need to provide us with a description and model/serial number for the musical instrument. If its value exceeds €5,000 a valuation certificate will be required.