The Motor Insurers’ Bureau of Ireland (MIBI), Insurance Ireland and insurers have been working on a project to create a central insurance database, which is referred to as the “Irish Motor Insurance Database” (IMID).
We have now entered a perfect storm in the motor market which has resulted in our cars actually appreciating in value rather than reducing.
Over the last number of years we have seen many Irish people coming home to Ireland after living overseas for many years. In fact, in the 12 months up to April 2021 we had the largest number of Irish returning home that we’ve has since pre-Celtic Tiger Years, with an average of 580 coming home each week.
If you own a house in Ireland, you will need to have a home insurance policy to cover it – that’s a given. But with a spike in building costs in 2021 have you considered whether you are undervaluing your home, and in turn, whether your sums insured may be out of date?