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Mortgage approval - some insurers refusing to quote due to flooding risk

  • 24-04-2019 6:33am
    Registered Users Posts: 1 Quantumpin

    I decided to check how much home insurance would be on a property that I am bidding on at the moment. I was very surprised to learn that two major insurers refused outright to even provide a quotation for home insurance on the basis of flooding risk from their database and wouldnt entertain quoting excluding flood risk. One of the other comparison websites did provide a quote.

    I am confident that there is not a flood risk in this particular estate and it has never flooded before but its address is not too far from an area notorious for flooding. I was also informed by others who live in the area that they previously did not have trouble getting home insurance in the past and this must be a recent issue.

    My question is what experience have people have with this when it comes to final mortgage approval with the bank. Is this something that would cause the bank to not approve the mortgage? Would be able to provide home insurance but major insurers in the market are refusing to provide cover.


  • Registered Users Posts: 4,811 ✭✭✭ Addle

    I had this issue and the mortgage provider were the only institution that would insure me, conveniently.
    I was able get a policy with a competitor the following year then, after they wouldn’t insure me initially.

  • Registered Users Posts: 1,375 bri007

    We had same problem, nobody would give us flood cover and bank then wouldn’t issue Cheque until we got it, stressful but eventually got a place to cover it at a premium and higher excess.

    We were told it will be easier next year once we have a year cover!

    This isn’t an estate in north Dublin is it?

  • Registered Users Posts: 7,721 ✭✭✭ ASOT

    Ring Kidd Insurance op.

  • Registered Users Posts: 735 ✭✭✭ goose06

    Had the same issue in D12, quote devil insured us.

  • Registered Users Posts: 4,437 ✭✭✭ harr

    We currently have similar issues, living in house now 20 years and never had an issue getting insurance. Was getting prices from few different companies and suddenly we are in a flood risk area and can’t change insurance providers we have. We have a tiny steam about 1/2 a mile from us and because of that half the estate is now a flood risk, even though this area has never flooded ever. It really only came to light when a neighbor was selling up and the person who was buying pulled out of the purchase because they couldn’t get flood cover.
    We are now paying massively over the odds for our insurance.. half the houses here paying double what others are paying in same estate.
    I have made a request to county council to change the flood area.

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  • Registered Users Posts: 3,478 ✭✭✭ Lu Tze

    Just an FYI, you can see the flood maps for the modelled 100 (1% AEP) year and 1000 (0.1% AEP) year storm events and past flood events on which may shed some light on why insurance is now being refused in your area.

    It's part of the CFRAMs study, which has been ongoing for at least 10 years. I would imagine the insurance companies are looking at the 1 in 100 year modelled flood extents (shown as medium probability on the map)

  • Registered Users Posts: 3,505 ✭✭✭ spaceHopper

    Ask for cover with out flooding except from a burst pipe

  • Registered Users Posts: 1 Mteverest

    Hi I am in the similar situation.can you please sent me the details of the broker that insured you. Would be great help

  • Registered Users Posts: 57 ✭✭ mickeyodee

    Long time ago but I'm just wondering can you remember who you got cover with, in a similar situation atm.

    Pm if you prefer, thanks 😊