Home How is Home Insurance calculated by AA & 123.ie? &

My home insurance renewal premium from 123.ie, is for €375. (It's about €100 more than last year, but this seems to be happening every year, "floods" and "big claims", etc. )

What is more surprising is this. The premium is for cover from RSA Insurance. However when I go to AA Insurance, they "search for the cheapest possible quote from their panel of insurers", and the cheapest quote is (for exactly the same buildings and contents cover) is ... €648, and it's from ... RSA Insurance !

How can the same insurance, from the same insurance company, cost €375 from 123.ie and €648 from AA Insurance? I do know that 123.ie is now owned by RSA but that is no explication of such a huge discrepancy (or of any discrepancy). Does anyone know how the premium is calculated so differently?

kb

AA are a broker. 123 is a direct insurance route for rsa. Brokers may not have all of the products available that the individual companies have. You may also find differences in excess and coverage on the two policies. They may be both from rsa but may not be a like with like comparison

im with 123.ie home insurance and its with travelers insurance.

Sandals said:

im with 123.ie home insurance and its with travelers insurance.

Click to expand...

123 used to have all the property insurance underwritten by travelers but out was recently bought out by RSA and on renewal you will see a change to RSA as your insurer

AA. whilst a broker, offer a bespoke product, so the rating terms are different. But it's a surprise that the difference is so vast. Given RSA's take-over of 123 I imagine these differences will be ironed out somewhat. Probably not to the customers advantage either.

RSA offer 4 different products to most brokers. Some with a €500 excess. There is a strong possibility the additional covers AA allow are different. Your 123.ie quote probably doesn't include accidental damage.