Flood Insurance

skibarooo

Hello,
I was wondering if anyone had any ideas of where we can get flood insurance from.
We are first time buyers, and buying in a high flood risk are (Egham, SURREY)
Our Mortgage company has stipulated that the insurance we take out much protect against flooding, but absolutley noone is willing to insure us, we have tried lots of specialist brokers/agents.
This is because the property boundaries flooded in Feb 2014, the house was not affected and is in fact raised 3 foot above ground level, the previous home owners assure us no claim was made!
In the special conditions state ' the mortgage offer is made on the basis that you can continue to insure the property with the existing insurer'.
The Insure no longer exists (Pearl) but has been taken over by Phoenix, the Seller telles us they are not willing/unable to transfer the policy, and Phoenix will not let us take out a new insurance with flooding cover.!!!

Please Help us, We love the house!!

dacouch

Have you tried Lloyd's who took over the Pearl Home Insurance renewals?

http://www.insuranceage.co.uk/insurance-age/news/1186639/lloyds-tsb-acquires-pearl-group-brand

If not try them.

Also try http://www.bureauinsure.com/

skibarooo

Thank you,
We did try Lloyd's and they are unwilling to issue a new policy which includes flood protection
I will try Bureau insure tomorrow whe they are open!

Quentin

You say you love the house, but at some time after you buy it then it will have to be sold!

Don't let your heart rule, and seriously consider the problem you are buying. This dream could be your nightmare.

So many more dream houses to go for!

(If it is such a dream why wasn't it sold before you fell in love with it?)

xMonsoonx

Check http://www.castleunderwriting.com/index.html

I know they insure properties in flood zones, but do sometimes have larger excesses for flood/special endorsements.

skibarooo

Hi all thanks for your response.
The owners have lived at the property for 50+ years and are now to old to manage it, hence the sale. The property has never actually flooded (as raised 3 foot), just the boundaries.
We actually have found a subsidised policy which covers us and the house for flooding which met the criteria the nationwide wanted (excess no greater than £1000) but they have refused us again today!!!
We are so dispointed and frustrated. They are saying we must have the current insurance transfered. Which is impossible!!!

Please help....what can we do!?!?

Quentin

Maybe bite the bullet and back out.


You look to be investing unwisely!!

skibarooo

Thanks everyone for all your help on this.
We actually had to just get a new mortgage with Halifax, with our Flood home insurance from SAGIC, we had the keys within 3 weeks.

Nationwide mortgages - would NOT recommend - they put obstacles in at all costs, and we had to pay more for a property in the end due to the 6 month delay they put on it, and also had to pay for further mortgage fees and house survey. Nationwide to refund us anything!

ChemistDude

Don't buy it, if its too risky for the banks its too risky for YOU!