Unable to get a home insurance quote

gaz wac

( Consumer Issues / Insurance...could even be the ranting forum !! ):)

Tried to do a search but nothing came up.

Just a word of warning for people who are thinking about making a claim against your home insurance. We had two burst pipes last year, one in Jan and one in Dec ( cold spells ), which we made claims as new kitchen had to be ripped apart.

Just got quote for this year and the renewal is about three times the price, ok i said, I accept that, what with the claims and all but ill shop around.

34 refusals later ( and counting !! ) and no one will even quote us becauce of the two claims !! When i googled it, a thread on askaboutmoney came up and people were saying that even their current insurer wouldnt insure them, so they were left high and dry !!

Im lucky cos my insurer quoted me but if they had refused me, along with all the other insurance comp's, I would have though long and hard about making a second claim cos i would have rather paid the 2.5k myself, than not having insurance at all !

Anyway, just so people are aware of it. Also if you, like the other people who were left with no insurance, go to your bank as they would have a vested interest in your home as they own it and you should get a quote! ( providing you have a mortgage )

Cheers

whippet

unfortunatly that is how insurance works .. you have made to very expensive claims within weeks of each other and therefore your insurance risk is very high.

Insurance companies are not in the business of charity and will price their premiums accordingly.

If I were you I would suggest putting in some remidial / preventative work to ensure this does not happen again and maybe aproach the insurance company for a policy with an exclusion around burst pipes.

sandin

aside from this - remember to reduce the insured value of your home to the rebuilding cost. Not the mortgage value.

e.g. rebuilding cost of 1000sq ft 3 bed semi in Dublin is €130,000 - €150,000.
Rebuild of 3000 sq ft detatched house in Kildare is €340,000

If the house goes up in flames and you have €500,000 insurance but it only costs €150,000 to rebuild - you'll only get the €150,000.

dudara

Moved to Banking & Insurance & Pensions

dudara