Home Insurance and Your Mortgage in Ireland: Why it’s important (not just for the bank)

In Ireland, all mortgage lenders will require you to have home insurance before you can access the money to buy your home. This is to protect both you and the lender in case of damage or loss to the property. In this blog post, we will look at why it’s important for the lender, but especially for you as the homeowner.

Why Home Insurance is Important to Lenders when Getting a Mortgage

Home insurance is important to lenders when getting a mortgage because it protects their interest in case of damage or loss to the property. The lender is giving out a huge sum of money to you as the borrower to buy the house, and as they hold onto the deeds of the house as security, ensuring you take out home insurance means they are covered if the worst happens. For example, if there is a fire or damage to the property that could mean the property is valued less than what you borrowed. If something were to happen to your home, the insurance policy would cover the cost of repairs or replacement, which gives the lender peace of mind knowing that their interest is protected.

Why Home Insurance is So Important for You

This might seem obvious to some, but home insurance is important because it helps protect your home and personal belongings from unexpected events, as we mentioned above. It can also provide liability coverage in case someone is injured on your property. One of the important things to remember if you are buying your home and are in the process of getting a mortgage is the amount you insure the property for must match what’s called the “reinstatement value.” This is the value of rebuilding the house back up from the ground and can differ substantially from the market value of the property. You will get this figure from the valuation report, which an auctioneer will conduct on the bank/lender’s behalf. If you already own the property, you can just use the approximate value of the house for the buildings amount to insure.

At Ezfees Financial – Mortgage & Life Broker

While we don’t sell home insurance at Ezfees Financial, we can certainly give you expert knowledge and advice on the steps involved with buying your new home. Our financial advisors are on hand to go through the A-Z of the mortgage process, including choosing your home insurance.

Why not give us a call here at Ezfees Financial for guidance, advice, and peace of mind during this important life journey. Our team can provide you with valuable insights into the home insurance and mortgage industry in Ireland, and help you navigate the process of buying a new home.


Home insurance is a critical part of the mortgage process in Ireland, and it’s essential to have the right coverage in place to protect both yourself and your lender. By understanding the reinstatement value, liability coverage, and other important factors, you can ensure that you have the right insurance policy in place to give you peace of mind as a homeowner. At Ezfees Financial, our team is here to help you navigate the home insurance and mortgage process, and find the best solution for your unique needs. Contact us today to learn more about our services.

Business Owner Consultation

Your business is your baby, so it deserves protection. Our team of experts will guide you through informed decisions to provide tailored policies. Shield your business against unexpected setbacks and ensure stability, whether you’re a startup or an established corporation. We’ll create a financial plan that will guide the balance of your personal finances and your long-term business goals.

What’s in this for you? Discuss your business finances in confidence with trustworthy advisors to:
1) Create a money management plan to suit your business
2) Align your business and personal objectives
3) Get clarity and validation on your strategies from dedicated Financial Advisors committed to safeguarding your business finances
4) Be advised when you need to speak to Tax Advisors where relevant
5) Obtain guidance onto Owner/Director on Pension planning and legislation
6) Referral to a Life/Business Coach where relevant

Plan for your business’s long-term financial goals:
1. Share your goals with us
2. Create a plan!
3. Gather and submit your information
4. Safeguard your business and your future

Investment Consultation

With low deposit rates and high inflation rates, savings and investment plans are appealing right now. We understand what it’s like to make sacrifices to accelerate your savings goals so you can achieve your dreams. That’s why we provide expert guidance so you can take charge of your future without sacrificing your valuable time.

What’s in this for you? Why you should consider savings and investment plans?
1) The potential for higher returns
2) Flexibility in the amount you save
3) Short, medium and long term options to suit your goals, amounts and terms to save
4) Investment options appropriate to suit your needs and goals

How you can save to secure your dreams:
1. Share your goals with us
2. Create a plan!
3. Gather and submit your information
4. Make your Dreams a reality

Mortgage Consultation

Whether you are a first-time buyer, mover, switcher or looking to invest in a rental property, we have a mortgage solution to fit your unique situation. Over 60 and looking to release equity in your home to support your children, go on that dream holiday or pay off bills? We find the mortgage most suitable for you and your family’s needs and support you through the entire process. You’re guaranteed to find the best mortgage option for your financial needs and goals, with impartial advice and competitive rates.

Clear, simple, actionable advice for all your mortgage needs:
1) First time buyers
2) First Home Scheme/ Local Affordable Authority Scheme
3) Switchers
4) Home Movers
5) Investment Property
6) Self Employed
7) Contract Workers
9) Lifetime Loan (over 60’s equity release)

How you can get started:
1. Share your journey with us
2. Create a plan!
3. Gather and submit your information
4. Make your Dreams a reality

Financial Planning Consultation

Secure your future and that of your loved ones beyond homeownership with life assurance, income protection and pension advice. Whatever your stage of life or money situation, our team of experts will help you make informed decisions to safeguard your financial future.

What’s in this for you? Planning your future, helps make your dreams a reality:
1) Start by creating a money management plan
2) Work with our dedicated Financial Advisors committed to safeguarding your future
3) Helping you get the guidance you need to achieve your long-term financial goals

Safeguard your financial future today:
1. Share your goals with us
2. Create a plan!
3. Gather and submit your information
4. Safeguard your Financial Future