Renewing buildings insurance after claims/inspections

Tustastic

Have now been assured my home is showing no signs of subsidence. This is the first time in about 30 years I have had any contact with an insurance company, apart from getting quotes and taking out policies etc.
The policy is due for renewal in February.
Am I likely to be asked for a higher premium?
Should I shop around as usual or stick with this company for now?
Information and advice gratefully accepted.

mattymoo

Renewal is dealt with by the underwriting department. Your non-subsidence claim is dealt with by the claims department.
In the old days (10-15 yrs ago) the two would probably work in the same building and live within 30 miles of you the policyholder. The underwriter would query the subsidence event recorded on your claims file and the claims person would say - yep, nothing to worry about, all came back clear.

Fast forward to now. Underwriter will be at the opposite end of the country (or possibly a different continent) to the claims person. They will look at a computer screen and see the dreaded Subsidence word. They will then add xx% to your premium and send out your renewal notice.

If it looks like they have done this*, query it with them. Tell the underwriter to speak to the claims person and view the loss adjusters / structural engineers report (depending on who came to see you).
Repeat twice (with threat to escalate to senior management) when they clearly fail to do what you have asked.

A good indicator is if your subsidence excess jumps from £1000 (industry standard) to £2,000 upwards.

Tustastic

Thanks for this helpful reply mattymoo. I will dust it off ready for February.
Should I stick with the same insurer now, even though the property doesn't actually have subsidence? I've read that it's best not to tart around in these circs. BTW, while there is no sign of subsidence, the property is on the dreaded London clay and there is a gi-normous cedar tree (with a preservation order) within influencing distance of the property - I declared it when I got the policy last February.

courtjester

I would say that there is no reason not to cast around for better quotations, provided that (1) you declare the facts of the claim to the new insurer and (2) you don't let the first policy lapse until the second policy is in place.

Curious... how did you come to be assured that you have no subsidence? Presumably, there was something that gave rise to you contacting your insurers about the possibility?