Clare County Council is calling on the Minister for Finance to intervene to ensure home insurance premiums cannot rise above the rate of inflation.
At this month’s meeting of the local authority, Westbury Councillor James Ryan raised concern that some residents are seeing policy quotes rise by as much as 20% annually.
The Sinn Féin Councillor claims insurance companies have blamed the price increases on weather and the rising cost of repairs.
Councillor Ryan says people are also having difficulty getting cover for issues like flooding.
Shannon Banks pensioner Dominic Kiely’s home insurance premium has risen by 105% in five years, despite a 40% loyalty discount.
Over the same period, the pension has increased by only 20%.
Dominic says the rising costs are forcing some people to cancel their policies, something he believes isn’t advisable.
You can listen to the full interview here:
