The recent devastating fire that occurred in a Dublin apartment block has led to a significant increase in the number of apartment dwellers seeking insurance coverage, according to The Independent.

Insuremyhouse.ie, as an online insurance broker, has being overwhelmed with calls from concerned apartment owners across the country following news of the Blanchardstown fire. According to Jonathan Hehir, an insurance expert and the managing director of Insuremyhouse.ie, approximately half of apartment residents do not have insurance in place.

This is in stark contrast to homeowners, as census figures estimate that around 350,000 people reside in apartments, including both renters and owners. Mr. Hehir stressed the importance of having adequate insurance to protect against substantial financial loss resulting from accidents like the one that impacted numerous Dublin residents.

While apartments are generally covered under a block policy, which safeguards the building and structure against perils such as fire, flood, and storm damage, this policy typically does not extend to contents. Therefore, individuals living in apartments, whether renting or owning, are urged to obtain contents cover. Contents insurance typically provides coverage for items like furniture, electrical appliances, clothing, jewelry, and money, among other things.

Mr. Hehir emphasized that without contents insurance, individuals would receive no financial assistance from insurers for repairing or replacing damaged items. The value of contents in an apartment can easily amount to tens of thousands of euros, potentially even reaching €100,000. Insuremyhouse.ie stated that obtaining contents cover for apartment residents would cost approximately €100 per year. 

Read the entire article in The Independent.