who will home insure me with claims history (7 in 5 yrs)

squink

help!!
my home insurance needs renewing THIS monday, have had an obscene renewal quote of £883 (buildings and contents) from my present insurer, directline. However had overlooked had had so many claims in last 5 yrs (7 accidental damage/loss - contents), can't get a definite from anyone else so looks like they've got me over a barrel. Does anyone know of a company likely to take me on? Also, would it be better (or not) in this scenario to look for separate buildings/contents?
please help!!

mattymoo

I'm guessing the internet comparison engines are not offering any quotes. They are designed really for standard risks, no convictions, no claims (maybe up to a couple in 5 yrs), standard 3 bed semi type risks.

The claims history makes you a non-std risk. Your best bet is to approach a decent insurance broker. They will then be able to talk to the underwriters direct and access products / policies that we cannot access via the internet.

The underwriters will be looking at steps you have taken to improve the risk. This would be easy if they had been theft losses (fit alarm / better locks) but in the case of accidental damage and loss claims it is difficult to see how things could improve.

Insurers may be happy to insure you for standard risks (fire, flood, theft etc) but exclude accidental damage. Either that or you may be asked to carry a large excess on the accidental loss claims, say £500.

Timescale is tight though. If DL have only just advised you of the renewal premium you could ask them for a 14 day extension. Strictly speaking they should give you 21 days notice of the premium to give you chance to shop around.

Check out the BIBA website (british insurance broker assoc) for a local firm that can help. Some are open on Saturday afternoons but unfortunately, the insurance underwriters will not be working today.

Hey_Dude

squink wrote: »

help!!
my home insurance needs renewing THIS monday, have had an obscene renewal quote of £883 (buildings and contents) from my present insurer, directline. However had overlooked had had so many claims in last 5 yrs (7 accidental damage/loss - contents), can't get a definite from anyone else so looks like they've got me over a barrel. Does anyone know of a company likely to take me on? Also, would it be better (or not) in this scenario to look for separate buildings/contents?
please help!!

Any insurance company has to weigh up 2 things with any policy - frequency and quantum - given that you have claimed 7 times puts you in a high risk category.

So frequency is very high - I can't comment on quantum.

I'm not suggesting anything but to a new insurer 7 accidental claims in 5 years is going to have warning flags flying - it looks like possible fraud (but I'm not saying that of course - it is how it looks to an insurer).

You will end up paying a very high premium - it's not obsence, but a reflection of the risk.

Good luck,

Dude

FlameCloud

7 claims in 5 years is a very large amount (average is around 1 claim every 4 yrs). What were the claims for and their rough costs?

If you claimed for every time you dropped an ipod or something like that then you'll be lucky to get a good deal at all.

You say the quote is obscene, how is this? Insurance is one big pot of money to pay out claims with. How much it costs depends on your risk. You are obviously a big one!

jonesMUFCforever

Look at it this way - they want £800 odd from you what has been the average claim on your part?
Are they making a profit out of you or are they losing out.
If they are losing they will put up premiums to a very high level in the hope that you go elswhere.

stooby

A few insurers only ask about claims in the last 3 years so some of yours might not be relevant. As previous poster has recommended, a broker is probably your best best.
I think Zurich only ask about losses in the last 3 years