Insurance costs for home ownership?

[Hells_Belle]

Hi there --

We're first time buyers trying to estimate the cost of home ownership and I would appreciate a bit of guidance. I know we need:

1. Home Insurance - Insurance for the house in case of fire or damage;
2. Mortgage Insurance - In case one of us dies, to pay off the mortgage.

Is there any other insurance specific to home ownership that I need to add to that list? And could anyone let me know what you pay for those? I know the actual quotes will be specific to our circumstances but I just want to have a general idea as to costs so I can keep control of our planned monthly budget and make sure we remain conservatively inside it. We're looking at a 2nd hand, €220K house with a €110K mortgage.

Thanks!

 

[ailbhe]

How old are you and your partner? Do either of you smoke?
What is the rebuild cost of the house? If you don't know that, what size is the house? Where is it? How old is it? Is it standard construction? What value contents do you need insured? Are there any valuable items that you need covered (like engagment rings etc)?

You probably won't want to give out that much info but the price of the insurance you need depends on that.
For example my life insurance is for myself and my partner, both 25, non smokers,290k over 35 years, non decreasing = €23 per month
House insurance is 260k buildings, 45k contents, based in the west, rural area, new build, including accidental damage = €300 per annum.

This is all variable depending on the questions above so your best bet is to call around or go to a broker.

BTW, I work in a brokers so mine is probably a bit cheaper than the average. Staff discounts, no broker fee etc.....

 

[Hells_Belle]

Thanks! I was basically trying to suss out "does this add up to +/- €100 per month?" and that's helpful.