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Underinsurance is a critical issue

Published

3 years ago

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By John Healy of Healy Insurances

Home owners may have received a letter recently from their insurer regarding 'underinsurance'.

The Central Bank of Ireland has instructed insurers to contact all home owners to highlight this critical issue.

As an insurance broker we have been highlighting this matter for a number of years to our customers as the cost of building has been increasing steadily since before the pandemic.

Last year Zurich Insurance carried out a survey of over 1,000 Irish consumers.

Its key findings were as follows:

According to the research, 51% of homeowners surveyed are correctly insuring their properties, while over 1/3 of homeowners (36%) are incorrectly insuring their properties by basing their calculation on their homes’ market value as opposed to its rebuild cost. An insurance valuation refers to the ‘building sums insured’, which is the full cost of rebuilding a property including the cost of site clearance and architects’ fees. This should not be confused with the market value.

A further 36% of people who took out a home insurance policy did not take any action to calculate their buildings sums insured, i.e., the rebuild cost of their home. However, one in four people used the rebuild cost calculator operated by the Society of Chartered Surveyors Ireland (SCSI) or another reputable operator, while 15% of homeowners organised a bespoke rebuild valuation through a building’s surveyor.

Meanwhile, over a quarter (26%) of homeowners have reviewed the cost involved in rebuilding their home within the last year, 20% reviewed two years ago while a similar figure (19%) have left it three years or more. Almost 1/5 of homeowners (18%) have never reviewed the cost to rebuild their home or can’t remember doing so. High and rising inflationary costs across the construction sector mean homeowners should be reviewing their rebuild cost annually when renewing their policy to avoid the possibility of homes being underinsured.

I would recommend that you review your reinstatement sum insured sooner rather than later and continue to review during the year. In order to get a definitive individual reinstatement value on your house you should contact an independent qualified surveyor.

The most recent rebuilding cost report and a rebuilding calculator can be found at www.scsi.ie.

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National Park to host European BioBlitz competition

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1 hour ago

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11 May 2026

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Killarney’s nature and wildlife will take centre stage from Friday, May 15, to Sunday, May 24, as the town celebrates National Biodiversity Week.

The annual 10-day event offers a variety of free activities funded by the National Parks and Wildlife Service.

These events provide opportunities for the public to connect with nature and learn from local experts and groups working to protect natural heritage.

This year, Killarney National Park has once again registered for the Natura 2000 BioBlitz.

This is a friendly competition between European nature sites, reserves, and national parks to see which location can record the highest number of species during the week.

In last year’s event, Killarney performed strongly, placing 8th out of 86 competing sites with 647 individual species recorded.


The Killarney National Park Education Centre is calling on the public to help identify and record as many species as possible this month.

To take part, volunteers can download the Obsidentify app and use it to scan plants and wildlife within the park boundaries between May 15 and May 24.


All scans made during this period will count toward Killarney’s total in the EU-wide competition.

Organisers hope that local involvement will help the park climb even higher in the European rankings while highlighting the diversity of the local ecosystem.

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KIFF to air final screening in May

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4 hours ago

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11 May 2026

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Kerry International Film Festival Film Club will return on Wednesday, May 20 for its final screening of the season, before taking a break until November.

The Song Cycle is a warm and funny documentary following musician and filmmaker Nick Kelly as he cycles from Dublin to Glastonbury, carrying his gear and performing gigs along the way.

Joining him are long-time collaborator Seán Millar, who arrives by bus to play each night’s show, and cameraman Céin O’Brien, capturing every high and low of the journey.

Blending music, travel and storytelling, the film is both a celebration of sustainable living and a moving reflection on friendship, creativity and Kelly’s relationship with his late father.

Intimate and quietly inspiring, it’s a story about perseverance, keeping the pedals turning, no matter the obstacles.

The documentary has received major festival acclaim, winning Best Independent Film at the Galway Film Fleadh 2024 and the Audience Award at the IFI Documentary Festival 2024.

Festival Manager Marie Lenihan said it has been really heartening to see how the film club has taken off.

She said: “At its core, it’s about giving Irish films a local screen and a shared audience, especially films that might not otherwise reach Kerry.”

Director Nick Kelly will attend a post-screening Q&A, followed by a live performance, making this a special one-night-only film club event.

Tickets are €8 plus booking fee at kerryfilmfestival.com. Free tea and coffee from 7.30pm at Cinema Killarney.

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