How much have you got your house insured for? Check it now because you probably have it overvalued. And the insurance companies are not going to tell you. Huge profits are made by the insurance underwriters from the apathy of the customer. They send you out an automatic renewal notice with the value of the house as you have given some time ago.  You just renew the direct debit or pay the total without thinking.

Many people in Ireland make a common mistake in overvaluing their house and undervaluing their contents. If the house next door sells for say €500,000, the neighbour insures theirs for the same amount. The value of the house and the cost of replacing it are two different things. The latter is far less than the sales price. If it burns down tomorrow, the site remains to be built on again and the cost of construction would be to the order of €250,000. So you are paying the insurance company an unnecessary premium of whatever it takes to cover €250,000. You should only insure what is re-instatement value. If in doubt ask a builder or quantity surveyor for this price before paying your premium or check Insurance Services Ireland for free advice on the subject.