Non Renewal of Home Contents Policy

lagerspice

Hi All,

Seem to be a victim of circumstances slightly here in that we have just received a letter from our Insurer stating that our home contents insurance policy will not be renewed due to us falling outside of their underwriting criteria.

We have made 4 claims between Jan 2014 and Oct 2015 and whilst yes this seems like a lot they were pretty sizeable and non ignorable claims and all legitimate and backed up with all information and in one case more than any insurer would hope to receive!

I guess we are stuck to going through a broker now or lumping for some policy with an insurer that is not well known and reading reviews not particularly well recommended?

What is the criteria? Is it how many claims that were made within a 3 or a 4 year period?

Because they are not renewing do we need to show this as 'refused or cancelled' insurance on declarations? Anyone been in the same boat?

We are in part furnished, privately rented accommodation and we liked our previously incumbent insurer as they insured us against damage to the landlord possessions.

One claim was for accidental damage in the home, One claim was for theft away from the home and 2 claims were for accidental loss if that relevant.

Just wondered if anyone had any advise or had been in a similar position.

Thanks!

ripplyuk

I would like to think that would be classed as the insurer 'Declined to quote' rather than refused/cancelled insurance, but I'm sure someone more knowledgeable will clarify.

With four 'pretty sizeable' claims in less than two years, a broker might be your best bet anyway.

lagerspice

Thanks. I think the insurers are looking at the claims as opposed why i am looking at other insurance and have not glossed over anything. Just been an unfortunate couple of years and nothing we do that would normally see this volume of claims to be honest. Thats what insurance is there for I guess. Shame as it was a top rated insurer and we certainly did not skimp on the cost of our premiums!

paddyandstumpy

You have no need to declare a cancelled or refused insurance based on falling outside of the acceptance criteria of an insurer.
If that was the case anyone in the country under 50 who has insurance would have to declare refused insurance, as Saga won't quote any policyholder under 50.

Regarding your specific circumstance, either talk to a Broker or just key in your information on the price comparison sites.

Personally I'm not sure a Broker could especially help you, fundamentally insurers will see you as a very poor risk, with 3 accidental (ergo avoidable) claims.

Just out of interest, what was the circumstance for the theft away from home claim? Was it (for example) a mugging, or an unattended bag?
I ask only because I wonder, if it's the latter then that's 4 careless claims... few insurers will look past that.
And those that do will have high premiums and excesses.

lagerspice

Thanks for the input.

The first claim was for my wife leaving her expensive purse and phone in the back of a cab. Careless however it is what it is and when you tot up the value, to replace was in excess of £1,200.

I had a claim for my Macbook stolen in Tambo airport in South Africa. Was stood at a check in queue and with my roll along and briefcase attached on top and someone just flicked open my briefcase and had away with my laptop. I have the CCTV and my hand never left the handle, all I had was my back turned.

3rd one which was the accidental home insurance was where one of our dogs leapt off the sofa to attack the cat on screen basically almost going through the TV. Lesson well learnt there!

4th was the most unfortunate in that my luggage was stolen from a hotel in Nigeria. The whole case. The inconvenience was the hardest thing but when you tot up the value of decent luggage, business dress, toiletries, peripherals etc that one came to £1,800 if I had to replace everything new.

All four events have just been unfortunate but boy am I glad we had the insurance we did and again we went for the highest end an paid our premiums, the same as the dogs. We spend over £2,300 a year on their premiums. Its just unfortunate that we had these events but hey, people have worse, its just an annoyance.

Always had the receipts etc for everything, even had the CCTV and police reports for the thefts so am stuck between a rock and a hard place.

I don't mind paying for the cover, its just they won't cover!

PasturesNew

The reality is that the insurers could, instead, insure people like me. Never made a claim; a lost purse/phone would be worth £40; never been/go abroad; don't own anything expensive.

Insurance is there for the unexpected possibility you might need to claim, it's almost as if you make a hobby of it.

Having said that I can't even imagine a lifestyle where just dogs' insurance would be more than a lot of people have to live on for a whole year, so maybe you and your insurers are used to such "high faluting" objects and claims.

lagerspice

I think that is a rather unfair comment to say the least. I pay my expensive premiums in line with what I have to insure. I and my wife work as hard as anyone else to pay for what we have and we have a couple of nice things however we are not draped in riches and gold either.

I would say that all of the circumstances may be mundane but they are still losses to us and what we have worked hard to earn and pay for as well and in the latter, what I need to conduct my job.

The dogs insurance is based on breed and yes we chose them and love them and ensure they are looked after and not neglected by any means and boy do we pay for it but at least we do.

I don't believe that the circumstances in regards to the number of claims vs the inability to get mainstream insurance is merited whether or not what you think of the value compared to whats in your handbag. My wife has a nice purse and was a anniversary present from me and she also has numerous ones picked up from markets etc. Whats the difference? A loss is a loss but its only the value post the fact that matters and thats why I paid for the cover I did. I am not shorting anyone, just asked some advice.

paddyandstumpy

You're not really stuck between a rock and a hard place, police reports is a "must have" for claims of theft.

As mentioned above you seem to make a 'hobby' of claiming. No insurer will want that on their books.

And just remember, the principle of insurance is that the losses of the few are borne by the premiums of the many.

Ultimately no one on here could tell you if any insurer will accept you, putting your details into the price comparison sites will tell you that (and don't forget to declare your claims).

Or, try and self insure for a year. If you spend £2,300 on contents insurance that could cover each of those losses you've claimed. In a few years the claims will not be disclosable, most of the market asks for claims in the last 5 years, a couple ask for claims in the last 3 years.

dacouch

When I have customers such as yourself eg with a large number of claims in a short period and / or the Insurer refusing to continue cover. I generally recommend a largish excess eg £500 to £1000 along with fairly basic cover.

You then need to look at the Insurance as being their for emergencies and try your best not to make a claim.

Once some of the claims have dropped off your record eg some are over three or five years old (The period most Insurers ask about previous claim). You can then get back to the normal Insurers as a normal customer, reduce the excess and reduce the excess etc.

I cannot stress how important it is to do your best not to claim in this period as another claim makes you even less desirable a £1000n claim could easily cost you that in increased premiums.

The reality of your situation, is your Insurers are predicting you will make further claims. If they felt you were a good risk they would increase your premium along with the excess and look to recover some of their outlay over the next few years.

You're lucky you're not with an RSA company eg More Than etc as they would have declined renewal after the second claim

dacouch

paddyandstumpy wrote: »

Or, try and self insure for a year. If you spend £2,300 on contents insurance that could cover each of those losses you've claimed. In a few years the claims will not be disclosable, most of the market asks for claims in the last 5 years, a couple ask for claims in the last 3 years.

I think the £2300 is their dog's premiums, I made the same mistake until I reread the post

lagerspice

Thanks. The Self Insurance angle seems an interesting one.

There has not been a hobby. Sometimes you go through a bit of a rubbish period of luck but when you pay the premiums that we have been vs the losses they are not that far out. We could have just had the TV incident and ergo paid over the odds for it as well through insurance.

Always played a straight bat and of course I declared the claims hence I am now having to look further outside the retail market.

And for those of you that wonder I even paid the import VAT on my wife's purse I bought abroad. Not many people would admit to voluntarily doing that if they could get away with 20% off the value!

My concern was primarily the cover should I need it and i haven't felt the need to claim in a year so don't worry I am not a serial claimer it's just the people that would insure me were even at the most expensive 40% lower than what i originally paying and didn't have the greatest reviews.

If I need to put my premium up then happy to do so but in 37 years bar one these were the only claims made.

Haters be haters!