Contents Insurance with Subsidence

anthony1882

Hi All,

I wonder if anyone can help me.

My contents insurance has increased from £79 to £250 per year. This is all because we had some subsidence during the year and the property has since been underpinned.

I don't really understand why my contents insurance would go up, but as soon as we mention 'subsidence' - the quote quadruples.

Any advice would be very welcome.

ACG

Subsidence is movement of the house, youve had it underpinned which is great. But if it carried on moving to the point where the house fell down then the insurer would have to pay out on the contents. So there is a higher risk to them.

Could you not ask if they will offer a quote with a subsidence related claim being excluded on your contents? They might not offer it but you can only ask. Or maybe increase the excess to something huge like £5k?

dacouch

Selden wrote: »

This is true - but it is rare for catastrophic failure to occur without there being an opportunity to remove the contents.

Almost certainly of greater concern to the OP's insurer is the fact that most contents policies cover the costs of alternative accommodation should the property become uninhabitable through the operation of an insured peril.

L&G quote this reason to me if I ever ask them to cover a customer with pending subsidence or previous subsidence due to the way their policy is worded.

They also cite the same reason for refusing contents for flats above ground floor in areas prone or who have previous flooding.

OP try getting a quote for adding your contents to your buildings provider. This will often gain a generous discount for combining the two which can (Due to the high building premiums connected with subsidence) often reduce the contents premium dramatically. I've seen plenty that have ended up with their contents covered for free.

anthony1882

Hi All,

Thanks very much for all of the advice - it is much appreciated!

I have found an insurance company (Sun Alliance) who were happy to remove the element which related to alternative accomodation and they have reduced our quote down to £160, with only a £100 excess.

So I have already saved £90 thanks to this advice - I'll try and increase my excess a a bit higher and see if it comes in any cheaper.

Thanks Again,
Anthony