Home Insurance Discussion

blackpongo1

was wondering if anyone could help home and content insurance is due for renewal but my ins company that i have been with for ten yrs are not going to insure me any more because i have had three claims in the last five years last time being when some one broke into my home and trash and robbed me no w no insurance company wants to insure me any help or advice of where to go now most appreciate`
thanks in advance

dacouch

blackpongo1 wrote: »

was wondering if anyone could help home and content insurance is due for renewal but my ins company that i have been with for ten yrs are not going to insure me any more because i have had three claims in the last five years last time being when some one broke into my home and trash and robbed me no w no insurance company wants to insure me any help or advice of where to go now most appreciate`
thanks in advance

Which Insurer was it?

Roughly how much was each claim and what were the claims for?

blackpongo1

the insurer was NIG through HSBC the last claim was for 5800 the one before was for my septic tank 500 and i think the one before was 400

dacouch

I'm surprised NIG have done that, have you invested in any security since the break in?

Have they confirmed in writing they are not offering renewal?

blackpongo1

my alarm is being fitted at the end of feb and the only written correspondance has been with the broker (abbey northern ireland broker) does that still count thanks for help dacouch

dacouch

I'm a bit surprised NIG would drop you for three claims for two small claims and a relatively small break in claim. If you had not invested in security to try and prevent more break ins I could understand them not offering cover but you are investing in security.

Assuming there is nothing untoward with the break in claim.

Try ringing NIG up yourself and discussing it with them (They will speak with you) try this number 020 7656 6000.

Explain the difficulty you will have finding new insurance and that the claims were beyond your control and that you have been with them for ten years

blackpongo1

dacouch just to say thanks for all your help NIG referred me back to my broker who tell me there is nothing they can do but keep trying apparently ins companies are pulling there belts in

dacouch

I'm still really surprised, it does not do you any favours as now you have technically been declined insurance by an insurer. Other companies specically ask this and will not fall over themselves for a client with three claims and who the insurer has declined to insure.

You could try the following companies who specialise in "Non Standard" / "High Risk" Home Insurance (These are terms the industry use to describe someone in your position.

http://www.crown-insurance.co.uk/household.html

http://www.sakza.co.uk/house/

http://www.bureauinsure.co.uk/

I personally recommend Bureau Insurance as they will normally get you a quote within 24 hours, I have had a few dealings with them and was impressed.

Be aware that the premiums are likely to be more than you have been paying and they are likely to "underwrite" your policy which could mean a higher excess for theft claims. Once you have been with them a while they normally take the loadings off or reduce them and reduce any increased excesses.

Try your best to avoid having a claim for a couple of years so you repair your claims record.

I hope this helps and feel you have been hard done by NIG (Unless of course there are matters I do not know of)

Good luck

blackpongo1

dacouch once again thanks for everything and again nothing untowards with past three claims just everyone tighting their belt thanks again

dacouch

Not in my experience...I know NIG are part of Royal Bank of Scotland who are having problems but they are a well known respected Insurer who are supposed to be committed to brokers.

Most decent Insurers and I would include NIG in that, would carry on offering cover all be it at an increased premium, with a requirement to increase security and possibly bigger excesses. They know that if they turn you away you will struggle to get cover. There is an unwritten rule amongst the decent insurers that they do not turn customers away unless there is something untoward happening. Your claims ratio (The amount of money paid out in relation to the premiums you have paid) cannot be that bad. If you have been with them for ten years paying around £220 a year they have had £2200 and paid out around £6500. That is not a bad claims ratio in an Insurers books.

It may be worth writing NIG head office a polite letter saying the problems its caused you, that you like NIG, want to stay with them and have taken steps to reduce the chances of future claims. Offer to take a large excess, I think you may get somewhere.