Make me richer - Building up savings  


CAR INSURANCE

This column wouldn't be complete without a quick peak at another car insurance quote.

This week we look at the over-65s and see how much fully comp cover is for a woman who, reluctantly and recently, became a pensioner.

The driver is from Cork and drives a 2007-registered Seat Ibiza worth €5,000. Her safety record is impeccable as she can boast of having five years of claim-free driving under her belt. Excess €300.

Best: €280 Aviva

Avoid: €837 Wrightway

Save: €557

www.aviva.ie

MORTGAGE PROTECTION

The one thing we all know is that it pays – and saves – to shop around no matter what type of policy you're after. Protecting your mortgage is just as important as meeting the dreaded repayment itself. A couple, who are both aged 35, are looking for €250,000 mortgage protection life cover over 25 years (meaning the mortgage will be paid off if one or the other dies). Neither smoke. They also have the option of adding serious illness cover on their plan.

Best: €23.37 Aviva (via Low.ie)

Avoid: €30.76 New Ireland

Save: €2,217 over life of policy

www.low.ie

HOME INSURANCE

Then it comes to insuring that home – another bill to add to that growing pile of monthly or annual outgoings. We checked out the price of covering a home in Buncrana, Co Donegal, worth approximately €180,000.

The property has a standard alarm and the homeowners are a couple, both aged 37.

The policy includes buildings cover of €145,000, with 30 per cent contents cover, and accidental damage. They've no previous claims; excess €300.

Best: €200 Chrome

Avoid: €369 Liberty

Save: €169.59

www.chromeinsurance.ie

LIFE COVER

Back to our non-smoking couple. They are both aged 30 and are looking for a €200,000 level-term cover on joint life basis over 35 years.

This insures two people for a specified term and in the event of either one dying during the term of the policy, the claim would be paid and the policy would then cease. If he or she died in year 15, €200,000 would be paid out. This is also a level-term policy, which means that the policy will cease after the 35 years if both make it.

Best: €39.79 Aviva (via Low.ie)

Avoid: €46.94 Caledonian Life

Save: €3,003 over the policy

www.low.ie

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 This article was originally written by Sarah Stack in The Irish Independent