Home owners are paying too much for home insurance, warns The Sunday Times.

The cost of rebuilding a home has fallen by up to nine per cent in Dublin, meaning the rebuilding cost on most home owners’ policies is too high, inflating their premiums.

Home insurance premiums have risen by 20 per cent in the last two years.

Brian McNeilis of the Irish Brokers Association confirmed that “insurers will not reduce sums insured unless instructed.”

Meanwhile, The Sunday Times also suggests that the price of petrol is soon set to break 2008 levels. Central Statistic Office figures confirm that transport expenditure grew 1.5 per cent in March.

An iPhone app by fuel comparison cost website, which tells users where they can find the cheapest fuel in their area has jumped into the Top 20 free apps available in Apple’s Irish iTunes store.


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