Findings of a new nationwide survey from Post Insurance, one of Ireland’s leading insurance intermediaries ( and a wholly owned subsidiary of An Post reveal our national phobia around losing our no claims bonus – despite the fact that we could potentially avoid being out of pocket by several thousand euro. Conducted by Ignite Research, the survey shows that 62% of homeowners who took part in the survey didn’t make a claim on their home insurance policy as they believed it would have a negative impact on their premium. It also reveals that people from urban areas seem more reluctant to make a home insurance claim than those from rural areas.

Solving that dilemma for consumers, Post Insurance has now launched a new benefit whereby all of its new or renewed home policies include an innovation – a No Claim Discount Protection. This means that customers can make one claim of up to €5,000 in a three-year period – WITHOUT losing their no-claim discount.

John Lowe the Money Doctor added: “The survey proves what we’ve known for a while – that losing a no claims bonus on an insurance policy is a no-no for most consumers. This new product from Post Insurance is a welcome boost for consumers – who can now recoup hard earned money that they have had to pay to cover the costs of incidents or accidents that are a natural part of being a home-owner.”

Survey Results

Asked it they were ever in a position (perhaps, say damage or theft) where they could make a claim from their home insurance provider but felt that they amount they would receive was not worth the longer-term impact on their insurance premium:

  • 38% believed that it would have a negative impact on their renewal / next year’s premium
  • 25% believed that they would lose their no claims discount
  • 19% felt that it was not worth the time or effort involved

Interestingly there’s also an age gap in attitudes:

  • For amounts less than €5,000 ,those aged 25-34 are the least likely to make a claim
  • By contrast, 49% of 55+ year olds are very likely to make a claim for €2,000-€3,000 vs 21% of 25-34 year olds.

More…. Urban / Rural divide

When asked how likely they were to contact their home insurance provider to make a claim at different monetary amounts:

Rural dwellers are significantly more likely to submit a home insurance claim at €4,000 – €5,000 (72% rural vs 62% urban) and €5,001 and €10,000 (82% rural vs 69% urban)

In addition, while those living in urban areas are significantly more likely to have been in a position where they could have made a claim from their home insurance (e.g. damage or theft) a significant 38% felt that the amount they would receive was not worth the longer-term impact on their insurance premium (versus 29% rural).

Gary Finnerty, Head of Marketing, Post Insurance said: “Every year, thousands of Irish people experience small but costly incidents at home. It could be anything from a chimney fire which needed a Fire Brigade to a leaking pipe. However, when these small claims are sent by homeowners to their insurance company, many find that their claim will wipe away their valuable no claims discount. With a Post Insurance policy, you’re protected against a range of these potential domestic incidents.  More importantly though, if you do have such an accident, you won’t be penalised on the double as your no claims discount is protected.”

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