Refused renewal of house insurance

ohlegmacnoleg

Hi, I have been informed by my insurance company that my property (which is currently being rented out) can no longer be insured as the address is now deemed high risk for subsidence. When I look for quotes online from other insurance brokers, they all require that I have not been refused insurance elsewhere.
What are my options?
By the way, the original insurance company are obliged to inform my mortgage provider that cover will cease shortly.
Thanks.

peteb2

go to the bank your mortgage is with and look for a quote off the provider they do their cover with.

julianne2009

I think if you approach all other insurance companies, and have written proof from them that they refuse to insure you, you can go back to the original insurer and im pretty sure that they are legally obliged to cover you (especially where you require to have cover by your mortgage lender).

I'd say they might be acting out of bounds by cancelling your cover, would be worth a call to citizen's advice bureau to check if they are legally entitled to cancel your cover like that due to a change in circumstance outside your control.

oldyouth

They wouldn't be legally obliged to quote you. Only motor insurance is compulsory in Ireland and, as such, insurers are obliged to offer a quotation (which can often be astronomical). However, Insurers in Ireland go by their own code of practice through the Irish Insurance Federation.

Try various insurers for a quote, followed by your mortgage providers associated company (they all have at least one). If you get no joy, go to the IIF and they will assist. Be prepared though, you may only get the minimum cover, Fire Only

broker2008

My own renewal has just had €1,000 excess put on for subsidence. I would try brokers via an office or phone rather than online companies.

TOMP

Is there any evidence of subsidence in the area or is this out of the blue?