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House Insurance Previous Claim

  • 29-09-2018 7:26am
    #1
    Aoife179
    Registered Users, Registered Users 2 Posts: 4 ✭


    Hi,

    I’m hoping someone can help! I had a house insurance claim last year which settled for €9,700. The pump in our attic burst apart, Assessors & plumber all agreed it was the pump manufacturers fault & RSA said they would pursue pump manufacturer & claim would be removed from our policy. RSA, our insurers, paid out, no problems, or so we thought.

    RSA renewed cover on our existing policies during the year without issue. However, we since bought another property, semi-D, standard construction, rented out. Due to the claim last year, RSA are refusing to quote us. RSA it seems didn’t bother pursuing pump manufacturer so claim is still on our policy. I have also contacted Allianz, FBD & a broker & no one would quote us. Am I supposed to just go uninsured for 2 years, until 3 years has elapsed? Will they have changed their criteria to 5 years by then? Can I return €4700 of the claim money to bring us into their standard criteria (ie claims under €5k don’t matter)?

    I’m going bonkers trying to figure this out 🀯.

    Any help would be greatly appreciated


Comments

  • #2
    Eggs For Dinner
    Registered Users, Registered Users 2 Posts: 3,055 ✭✭✭Eggs For Dinner


    You can return the claim payment (all of it) to insurers to reinstate a claim free status, but you must still declare the incident to potential insurers. I wouldn't do that myself. It is likely your problem is that rented out properties are a restricted market for insurers and not many do it. I know you said you tried a broker, but try and find one specialising in let properties. Kidd Insurance, Hickey Clarke & Langan, Frost Insurance are a few


  • #3
    Aoife179
    Registered Users, Registered Users 2 Posts: 4 ✭Aoife179


    Eggs For Dinner wrote: »
    You can return the claim payment (all of it) to insurers to reinstate a claim free status, but you must still declare the incident to potential insurers. I wouldn't do that myself. It is likely your problem is that rented out properties are a restricted market for insurers and not many do it. I know you said you tried a broker, but try and find one specialising in let properties. Kidd Insurance, Hickey Clarke & Langan, Frost Insurance are a few

    Eggs for Dinner

    Thank you so much for your comment above. I had spent over 3 hours on the phone to brokers, insurance companies (mostly on hold!) last Friday, to ultimately be told that I was now uninsureable. I got on to Kidd Insurance this morning, and they immediately said that they could get me cover, so long as previous claim was less than €10k (thankfully, mine was €9,700.00). They came back with a pretty reasonable quote, no more than it would have been without the previous claim. RSA meantime were offering that I could refund the full €9,700, in order to get cover with them. That €9,700 is long-since spent on re-instating the ceiling in my daughter's bedroom, together with carpets, floors, repainting and water pump. What on earth is wrong with this country? I have insurance for over 17 years, and have never made a claim before. Then, one legitimate claim, and I am suddenly uninsurable for a new property!!!


  • #4
    3DataModem
    Registered Users, Registered Users 2 Posts: 4,077 ✭✭✭3DataModem


    Aoife179 wrote: »
    Eggs for Dinner

    Thank you so much for your comment above. I had spent over 3 hours on the phone to brokers, insurance companies (mostly on hold!) last Friday, to ultimately be told that I was now uninsureable. I got on to Kidd Insurance this morning, and they immediately said that they could get me cover, so long as previous claim was less than €10k (thankfully, mine was €9,700.00). They came back with a pretty reasonable quote, no more than it would have been without the previous claim. RSA meantime were offering that I could refund the full €9,700, in order to get cover with them. That €9,700 is long-since spent on re-instating the ceiling in my daughter's bedroom, together with carpets, floors, repainting and water pump. What on earth is wrong with this country? I have insurance for over 17 years, and have never made a claim before. Then, one legitimate claim, and I am suddenly uninsurable for a new property!!!

    Alas, Irish insurance companies assume a very high rate of moral hazard, because Irish people have a high rate of moral hazard. It’s total BS and negatively impacts honest people.


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