Renters Insurance

gizmo81

So we decided today that it would be good to invest in insurance. We are tenants.

Our main concern is burglary, we have some electronics of value.

Completing online applications some were coming back with can't complete online application.

Turns out the house is at risk of flood and the request has to go before the underwriters. Will have to wait till next week to hear back.

How does this work out for us as tenants? Does anyone have any experience of this?

Please don't attack me, but surely a property shouldn't be rented if the contents can't be insured? Feeling quite stressed now.

The_Conductor

Plenty of property- perhaps more than a quarter of all residential dwellings in Ireland- are in flood alert areas on underwriters maps. It doesn't mean its a genuine risk, nor does it mean you'll not be offered insurance if you seek it (please excuse my use of double negatives).

What normally happens is- it goes to underwriters, and they assess the risk associated with the requested insurance- and either decide there is no risk, an element of risk- or an unacceptable risk- and price their offer to you accordingly.

Don't loose any sleep over it- wait for the underwriter to come back to you.

I was recently turned down for contents insurance as my dwelling was said to be a flood risk- despite it being on a hill. It was just in the red zone on the map. I challenged it- and got cover offers immediately from 4 different companies. I went with Blue Insurance eventually- but am regretting doing so (despite them being the cheapest- their customer service is appalling).

gizmo81

Cheers thanks very much, have just got one quote online from a third party, and will see what my bank comes back with from the underwriters.

Zurich said they don't insure laptops above €1000. Is this normal? Though a third party allowed me pick specified item laptop up to €1500 then at the end it said underwritten by Zurich.