Insurance to exclude flood risk

Bogof_Babe

We have a small flat as a second home, and it is about 200 metres from a man made recreational lake. Consequently any contents insurance premiums will be quoted high due to the proximity to water.

However our flat is on the third of four levels (semi-basement, raised ground floor, ours, attic flat) and there is no way even a tsunami would reach our level (well unless the entire north west was under water), so I don't see why we should be penalised in our contents premiums just because there is a lake in the near area.

Is there such thing as a bespoke policy that would cover us for theft, fire and accidental damage, without loading the price for flood cover which we don't need. (Obviously internal burst pipe type flood damage would have to be taken into account separately).

Does anyone know any insurers who might be prepared to quote on this basis?

Thinking about it, there will be a lot of people after recent events who still want theft protection but know that flood risk will push premiums out of their affordability. Maybe such policies already do exist?

cjgoodsell

Have you told any of the insurers when you get a quote that your on thrid floor?

Somethimes this is acceptable to insurers if unsure usually a broker can help on this as they have the access to a rangeof insurers!

dacouch

Are you having problems getting quotes, as I would be surprised if you are as Insurers generally ask if the home is near a "Watercourse or River". They are normally not interested in lakes unless there is a history of flooding for the property. (A watercourse is not normally classed as a lake)

Most Insurers use the environment agencies flood data, you can check your post code using this link.

http://www.environment-agency.gov.uk/homeandleisure/floods/default.aspx

If you do have problems getting cover, post back and we can give you some pointers.

Sunnyday

We are close to a natural spring which feeds into a small lake, never even thought that it would be an issue when we moved here and struggled a bit when first buying insurance.

We have been insured with Direct line for the last 3 years, i`m pretty sure that i was able to explain the circumstances when i first took out the policy even though i bought it online.

Give them a try for an online quote.

HTH

SD

Bogof_Babe

Thanks everyone. In our case it is further complicated as, being a second home, we have to be honest about the fact that it is unoccupied a lot of the time.

I did fill in one online application (specialist in second homes - from a pointer I got somewhere on here), and when i got to the "proximity to water" question I abandoned it! Earlier (before we moved in and I hadn't realised how close the lake was from one viewing ) I completed it saying we were outside the specified distance from "water", and got a reasonable quote, but of course it would be invalid if I was not honest about the actual location.

I think a broker sounds like the best bet. Thanks again.

dacouch

Its very unusual for an Insurer to just ask how close you are to water as generally lakes do not cause many floods. Go back to the quotes you were looking at and read the question they are asking carefully.

Like I said before a lake is not a watercourse, a water course is normally termed along the lines of a channel water runs through eg river, canal, stream etc.

If it's a holiday home your first port of call should be the Insurer of your main home who are often the best bet for holiday homes

Bogof_Babe

You know, I bet you're right, I bet it did say watercourse. I stupidly assumed it meant anywhere there was a significant amount of water! Actually the sea is on the far side of the lake, but you can work out from my location where I'm talking about, and everyone knows the sea rarely makes an appearance there!

Good point about our main home insurers too. Thanks yet again!

pastra

You can usually have a bespoke clause added to excluded flood at ground floor level.

bombardier

Rather than start a new thread I thought I'd tag on the end of this one.

My query is similar, but more a question on a possible outcome.

I live within 200 metres of the River Lea. If I just got a policy via confused.com or wherever, and didn't tell the insurance company that I lived within 200 metres of a watercourse, what would happen if I made a claim for theft or accidental damage or any other part of the policy not related to flooding? Would they pay out? Or would they say the policy was void because I didn't tell them even though the claim was nothing to do with flooding?

The way I see it, as I'm renting I don't care about the house, I'm not responsible for buildings insurance on it. With warning I'd take valuables upstairs in case of flooding. I don't see why I should pay more of a premium when I'm not going to claim for flooding. I completely understand that I couldn't claim for that anyway.

What does everybody think? Anyone know for sure whether they would pay out or not?

Cheers.

dacouch

If you have intentionally not told them it is possible they can decline all claims, in addition they can void the policy from inception which will make it very difficult for you to obtain any type of insurance including car again.

If you unintentionally did not tell them BUT they would not have covered you had you told them the truth it is possible they can decline all claims, in addition they can void the policy from inception which will make it very difficult for you to obtain any type of insurance including car again.

The above may change later in the year as there are changes going through but might not be back dated to the start of the current years insurance

It is always best to be totally truthfull with an Insurer