In Ireland, many homeowners are now discovering that their Eircode — essentially their postal code, can make a big difference in what they pay for home insurance. This “Eircode lottery” means two homes of similar size and condition, but in different Eircode areas, may pay very different premiums. Understanding why this happens, which areas pay the most (and least), and how to manage it is crucial, whether you are renewing a policy or buying one for the first time.
What Is the “Eircode Lottery”?
The term “Eircode lottery” was popularised by recent reporting that showed identical-style homes (for example, a three-bedroom semi-detached house) have very different insurance costs depending on which Eircode they fall into. A headline example: premiums ranged from €493 per year in Carlow to €801 per year in Roscommon for such a home.
The difference is almost €300 annually for the same basic cover, just because of geography. Inequalities like this have led many Irish property owners to ask: Why does my Eircode matter so much? And is there anything I can do to alter that cost?
Areas with the Highest Home Insurance Premiums — And Why
Insurance providers look at many risk factors tied to location. Some Eircodes are penalised because of higher risk. Here are features and examples:
High-Premium Areas
- Roscommon: In the Carlow vs Roscommon comparison, Roscommon had one of the highest premiums, €801 for a three-bedroom semi-detached house.
- Some parts of Dublin & surrounding counties also tend to be more expensive, especially in areas prone to flooding or with higher crime or vandalism risk. While specific Eircode examples weren’t given in the Eircode lottery article beyond Carlow / Roscommon, broader price-comparison sites show that Dublin and its suburban zones often command higher home insurance premiums.
What Makes These Areas More Expensive
The reasons are multiple, and many of them are outside a homeowner’s control. Key contributors:
- Environmental Risks
- Flooding risk is a major driver. If your home is in a flood zone, insurers often charge more or require flood cover as an addition.
- Storm damage, coastal exposure, or proximity to waterways can raise risk significantly.
- Crime and Theft Statistics
- Areas with higher rates of burglary, break-ins, or vandalism will carry higher risk, and insurers load premiums accordingly.
- Historical Claims Data
- If many claims have been made in a certain Eircode (for example, flood, subsidence, storm damage), insurers will price that risk in.
- Even within a street, homes closer to known problem zones (e.g. landslip zones, riverbanks) may pay more.
- Repair and Rebuild Costs
- Remote areas might have higher transport costs for labour or materials.
- If building standards or the type of building in an area are older or more complicated (stone, older roofing), insurers might expect higher cost or more frequent repairs.
- Insurance Provider Practice
- Some insurers use Eircode or postcode risk tables as part of their pricing models. Having an exact Eircode allows them to map risk more precisely.
- Even neighbouring Eircodes can have different flood mapping, crime statistics, or local risk profiles.
Areas with the Lowest Home Insurance Premiums — And Why
On the flip side, some areas benefit from much lower premiums. The reasons tend to be the reverse of the high-cost factors listed above.
Low-Premium Areas
- Carlow: In the same 3-bedroom semi-detached example, Carlow came in at €493 annually, much lower than many other locations.
- Rural or less flood-prone inland counties often benefit. Locations without coastline, less history of extreme weather incidents, lower crime rates, and properties of more standard construction tend to be cheaper to insure.
Reasons for Lower Cost
- Lower Environmental and Flood Risk
- Inland areas or elevated locations with good drainage. No history of flooding or storm damage.
- Less Crime/vandalism Risk
- Areas with fewer break-ins or where community crime statistics show lower risk.
- Standard Building Types & Easier Repair Access
- Homes constructed with modern materials, simpler roofing, easier access for repair teams and materials.
- Lower Historical Claims Record
- If claims in an area are rare, insurer risk models will assume lower likelihood of payout.
- Good Security Measures & Less Exposure
- Homes with existing security systems or in neighbourhoods with low risk of vandalism.
- Homes with existing security systems or in neighbourhoods with low risk of vandalism.
How Big Are the Differences?
- The Carlow vs Roscommon difference example: ~€308 difference (493 vs 801) for a particular house type.
- Some quotes more generally across Ireland show average premiums for home insurance ranging from around €430 per annum, depending heavily on location, size, contents, excess level, etc.
- In price-comparison samples: for a 4-bed detached home in Galway, quotes varied from ≈ €555 to ≈ €855 depending on insurer, level of cover, excess, etc. That’s a difference of ~€300 in the same area just depending on provider and policy features. While those differences aren’t purely Eircode related, they illustrate how much variance exists.
What These Differences Mean for Homeowners
- When moving house, even a few streets can shift you into a different Eircode-rated risk zone, premium could increase or decrease substantially.
- When renewing insurance, your new quote may differ from previous ones simply because insurer risk tables have been updated ( floods, storms, claims history ).
- Homeowners may also find some insurers refuse or limit cover in high-risk Eircodes or add additional surcharges or exclusions (e.g. for flood, subsidence).
How You Can Manage & Compare to Avoid Overpaying
- Know Your Exact Eircode
Make sure you use the precise Eircode in quotes. Even small differences (same street, different side) may have different risk profiles mapped. - Understand the Risks Attached to Your Area
Check flood map data, local crime stats, and past weather or environmental risk history. If you’re in a flood-prone area, find out whether flood cover is required and what it costs. - Compare Multiple Quotes
Use comparison tools / brokers. Different insurers have different risk models, and some may give better discounts even in high-risk Eircodes. - Adjust Your Excess and Cover Levels Wisely
A higher excess may reduce premium. Also, evaluate what cover you need (buildings only, contents only, combined). If flood is optional, decide if you need full flood cover. - Improve Risk Profile
Make improvements: better security, draught proofing, upgrading roofs, drainage improvements, flood barriers if relevant — insurers may offer better rates if you mitigate risks. - Review Your Policy Annually
Insurance market conditions, claims experience, and environmental data change. By revisiting your policy yearly, you can ensure you aren’t locked into an unjustifiably high premium.
Final Thoughts
The Eircode (your postal identifier) is no longer just for mail-delivery, it is a major determinant of what you pay to insure your home. The “Eircode lottery” is real: depending on where you live, your home insurance premium could differ by hundreds of euros per year for a similar property.
For homeowners, the key is awareness. Know your Eircode’s risk factors, get multiple quotes, make sensible improvements to your home’s risk profile, and don’t assume your previous premium reflects the best possible deal.
By understanding the geography of risk in Ireland, the statistics, and the tools available, you can ensure you’re not paying too much, and you can enter into your home insurance renewal or purchase with confidence.