If I fit a house alarm myself will I get a discount from my insurance provider?

Q Q A

I have just bought my first home and it doesn’t have an intruder alarm so I am thinking of installing one myself. I’m quite handy with electrics, but I’m not a qualified electrician. A friend mentioned my home insurance might not cover me if I do this. Is that right?

AThis will depend on whether or not you claim a home insurance discount, according to Paul Walsh, spokesman for Peopl Insurance.

Most insurers offer a home insurance discount – typically in the region of between 5pc and 10pc – if you have an approved intruder alarm fitted in your house or apartment. However, there are a number of conditions which must be met when claiming the discount.

Many insurers will not cover loss or damage to your home as a result of theft or attempted theft unless the intruder alarm system meets a particular standard (typically EN50131 or IS199 standard) and is fitted by an approved installer or alarm company, Mr Walsh said.

As you are not a qualified electrician, it is unlikely that you fit your insurer’s criteria for an approved installer. If this is the case, you would not be covered for break-ins in the event that you install your own alarm and claim an alarm discount, he said.

Even if you don’t claim the alarm discount, you should check with your insurer if you will be covered for break-ins if you fit the intruder alarm yourself.

My local credit union is currently offering a green mortgage at a rate of 3.5pc, which is the lowest I have seen around. What would I need to do to qualify?

Generally, to qualify for a green mortgage, you will need to ensure your home has a Building Energy Rating (BER) of B3 or higher, said James Liston, business development manager at Capital Credit Union.

Green mortgages recognise and reward individuals who prioritise energy efficiency in their homes. They are usually available to first-time buyers, movers, switchers, those building their own homes or those who have made energy-efficiency improvements to their homes.

A valid BER cert must typically be provided to your lender to prove you are eligible. If you are unsure about your home’s energy rating, you should seek assistance from a BER assessor. You can locate a qualified assessor through the SEAI National Register of BER Assessors.

Once you’ve booked your assessment, ensure you gather all necessary documentation in advance. This includes certifications, receipts, invoices, or specifications from the architects, engineers or contractors involved in any energy efficiency improvements, Mr Liston said.

Following the completion of your assessment and receiving a BER certificate indicating a rating of B3 or higher, you are ready to apply for a green mortgage with your local credit union.

QI bought gadget insurance for my daughter’s iPad last year and recently discovered the policy automatically renewed for another year. I only wanted it for one year. I thought the Central Bank brought in new rules which required a consumer’s written consent to opt in to automatic renewals. I am pretty sure I never gave such consent.

AIn July 2022, the Central Bank introduced new rules for providers of non-life insurance policies, including gadget insurance, said Michael Kavanagh, CEO of the Compliance Institute. New rules require insurers to provide certain additional information to customers whose policies renew automatically, but the rules do not require customers to provide written consent to opt in to automatic renewals.

The introduction of such a requirement had been previously suggested by the Central Bank but it later concluded that the risk of introducing an opt-in to automatic renewals for motor, home and health insurance would outweigh the benefits, given the potential negative impacts for consumers if such policies lapsed, Mr Kavanagh said.

However, the Central Bank has confirmed that it believes consumers may benefit from an opt-in approach to automatic renewals for certain other types of insurance, including gadget and travel insurance. So while it is not currently a requirement for a consumer to give written consent to opt-in to automatic renewals for gadget insurance, this may become the case in the future.

You should contact your gadget insurance provider and request to be opted out of auto-renewal, assuming you wish to do so.