Can I reduce my buildings sum insured?
If the reinstatement value of your property has reduced you may be able to reduce your home insurance (buildings cover) premium. The Society of Chartered Surveyors Ireland has a useful calculator that will give an indication of your reinstatement cost.
If you do reduce your premium, you will need to send a printout of the reinstatement calculation along with a copy of your new home insurance schedule to us at the address below.
If you have more than four bedrooms you will need to get a valuation of your property from a Bank approved valuer. Call us on 01 6113333 or talk to your mortgage specialist for more information.
Bank of Ireland Mortgages
2 Burlington Plaza