Home Insurer refusing to reinsure - is this allowed?!

maryjane01

Fairly bog standard terrace house in London There is a very small stream behind our house which has never flooded, when we moved in over 10 years ago, our neighbours at the time (who had lived there 50 years at the time) confirmed this. Major flood prevention have been completed so a local park would flood rather than houses.

This year, our insurer have remodelled their flood maps, and now this year do not want to insure us - is this allowed?

We are feeling rather stuck as it is 3 weeks from renewal, and we are currently abroad - we moved out of the house nearly 12 months ago and paid a lot more for 'non standard' BTL home insurance. We were always covered by Halifax before this.

Additional complications: terrace house has a loft conversion, so a portion of the house has a flat felt roof (which we paid over 200 pounds to get inspected to comply with the insurance last year).

2nd complication, we have a side return extension with a glass lean to roof (which is actually not that uncommon in recently renovated London houses).

We can't pass any online quote requests. I don't know what to do, but seems so unfair an insurer can change their modelling and refuse to reinsure.

Any advice? It would be greatfully received.

dunstonh

This year, our insurer have remodelled their flood maps, and now this year do not want to insure us - is this allowed?

yes.

I don't know what to do, but seems so unfair an insurer can change their modelling and refuse to reinsure.

It's not unfair. it's inconvenient but changes happen for people and businesses. you dont have to buy from them and they dont have to offer you their services.

indesisiv

Most insurers rather than refuse to re-insure just give you a stupidly high quote a couple of thousand more than usual.

But the short answer is yes they can refuse to do business with you for whatever reason and it sounds as though you have an unusual setup compared to everyone else or you'd be able to use the online tools. Just contact a broker and get them to sort it for you. Yours sounds exactly the reason that insurance brokers are set up to deal with.

Blibble

The insurer can conduct business with whoever they choose. There are no rules saying they *have* to offer cover.

Contact a decent independent broker who should be able to set you up with something fairly cost effective.

huckster

Barclays Home Insurance and others are part of the Flood Re scheme, where Government has stepped in to cover the Insurers flood risk.

You may find you can get a cheaper policy and similar cover to what you have had.

I live near a river and was quoted silly premiums. With Flood Re, it brings the premiums down to average levels, as the flood risk is not a factor as such. The Insurers pay out for flood claims and the Government pays the Insurers back.

System

If you are confident it's not going to flood then surely you don't need flood insurance?