You'll find answers to some of the most frequently asked questions we hear from customers about their insurance prices.
Why has my Home Insurance premium increased?
The premium you have been offered for your coming policy year reflects our updated view of claims costs for your risk and considers rising inflation and any other relevant factors.
Why has my Home Insurance premium decreased?
The premium you have been offered for your coming policy year reflects our updated view of claims costs for your risk and considers rising inflation and any other relevant factors. For you, the latest view of claim costs for your risk has resulted in a premium reduction.
If my Home Insurance premium has reduced, have I been overcharged previously and will I receive a refund?
Any premiums we have offered you previously were correct and based on our view of the risk and the way we set our prices at that point in time. As a result, there is no refund due for previous insurance periods.
The premium you have been offered for your coming policy year reflects our updated view of claims costs for your risk and considers rising inflation and any other relevant factors.
What are the Differential Pricing Regulations?
The Central Bank of Ireland performed a review into Home and Motor Insurance pricing across the entire Irish market and have now introduced a series of measures to strengthen the consumer protection framework. These new measures are effective from the 1st July, 2022. They prevent all Insurance Companies and all Intermediaries from charging renewal customers a higher premium than they would for a like-for-like first year renewal customer at that point in time.
Why are these changes being introduced?
The Central Bank of Ireland has introduced these new rules to protect consumers and make renewing home insurance fairer. Further information is available on the Central Bank’s website here.
I have just received my Home Insurance renewal offer, what should I do next?
We encourage you to review your renewal documentation which outlines your premium, your cover and sums insured as well as highlighting the increased benefits we have introduced this year. Given rising inflation costs, we recommend that you review your buildings sums insured to ensure they reflect today’s rebuilding costs. The following website will help you check costs, please click here
Your renewal documentation also includes details of your renewal payment options. If you currently pay your premium by direct debit, your policy will renew automatically unless you contact us at least 5 working days before your renewal date to advise us that you do not wish your policy to renew automatically.
You can call (01) 524 6000 or email info@123.ie to do this.
You should keep your insurance arrangements under review as there may be other alternatives in the market that could provide savings for you for similar cover. More information in relation to getting insurance quotes is available on the Competition and Consumer Protection Commission website here.
Why has my Car Insurance premium increased?
The premium you have been offered for your coming policy year reflects our updated view of claims costs for your risk and considers rising inflation and any other relevant factors.
Why has my Car Insurance premium decreased?
The premium you have been offered for your coming policy year reflects our updated view of claims costs for your risk and considers rising inflation and any other relevant factors. For you, the latest view of claim costs for your risk has resulted in a premium reduction.
If my Car Insurance premium has reduced, have I been overcharged previously and will I receive a refund?
Any premiums we have offered you previously were correct and based on our view of the risk and the way we set our prices at that point in time. As a result, there is no refund due for previous insurance periods.
The premium you have been offered for your coming policy year reflects our updated view of claims costs for your risk and considers rising inflation and any other relevant factors.
What are the Differential Pricing Regulations?
The Central Bank of Ireland performed a review into Home and Motor Insurance pricing across the entire Irish market and have now introduced a series of measures to strengthen the consumer protection framework. These new measures are effective from the 1st July, 2022. They prevent all Insurance Companies and all Intermediaries from charging renewal customers a higher premium than they would for a like-for-like first year renewal customer at that point in time.
Why are these changes being introduced?
The Central Bank of Ireland has introduced these new rules to protect consumers and make renewing car insurance fairer. Further information is available on the Central Bank’s website here.
I have just received my Car Insurance renewal offer, what should I do next?
We encourage you to review your renewal documentation which outlines your premium and your cover. Your renewal documentation also includes your renewal payment options.
You should keep your insurance arrangements under review as there may be other alternatives in the market that could provide savings for you for similar cover.
More information in relation to getting insurance quotes is available on the Competition and Consumer Protection Commission website here.