Switching a home insurer after a claim

Amik

I'm a first time buyer and my home insurance policy is up for renewal this month. A few months ago I made a claim for a burst pipe that damaged the living room area. It was over 5000 EUR.

My current insurer doubled my premium for 2023. All the other insurers I contacted would not talk to me when they heard about the claim.

Am I stuck with my current insurer for 3 years or do I have other options?

mct1

The same happened to me a few years ago. Except I'd made 3 claims in 5 years not realising it would count against me. Like in your case, no other insurers would quote so I had no choice but to stay with RSA. But after a year or two I did manage to find cheaper insurance elsewhere just ringing round.

If that was your only recent claim it seems unfair. Have you tried going through a broker?

Calahonda52

Broker or not, still requires disclosure

Calahonda52

https://www.boards.ie/discussion/comment/120227588#Comment_120227588

What did you think was going to happen to you as an insurance risk, 3 claims ....

Jim2007

https://www.boards.ie/discussion/comment/120227588#Comment_120227588

Most households go a life time with perhaps one or no claims, three in five years makes you a high risk bet....

mct1

https://www.boards.ie/discussion/comment/120227841#Comment_120227841

i worked that one out after the event more than 10 years ago 😊. Not high risk at all these days. I was just sharing my experience with the OP.

Jim2007

https://www.boards.ie/discussion/comment/120230380#Comment_120230380

Based on data I have worked on for one of the European reinsurance firms [It was Irish related data as we were trying to detect people using various Irish/English combinations of identity to over insure], I'd say that is high risk and obviously their underwriters feel the same way.