Gatehouse Bank

Chouchou10

Hello everybody

I was wondering if anyone used gatehouse bank for HPP ? 

My husband and I want to use this bank as they are sharia compliant but I have seen on trustpilot that they require a terrorism cover, what is this ? has anyone heard of this before ? I mean firstly I thought that war and terrorism were automatically added to a normal house insurance because that's out of our control and things like this don't happen often and secondly, we will be living in the house so that does not really make sense. - It costs as well a lot of money for this type of insurance and not easy to find.

Is this insurance only for buy to let ? or for landlords ? 

I was hoping someone that used Gatehouse bank could tell us a bit more about this, as well as their thoughts about this bank.

Thank you

K_S

@chouchou10 Unless I'm missing something obvious, 'terrorism-cover' is usually just an add-on available to normal buildings insurance with most providers and only increases the premium by a small amount.

Chouchou10

Thanks for responding

Ahh if that's the case then perfect. We just thought after reading the reviews on trustpilot  it was a bit strange for the bank to ask for something like this especially if we are to live in the property. 

JamieJ89

Terrorism is always excluded by an insurance policy unless you specifically “opt in” to this cover. The reason for this is that Terrorism claims are never paid by an insurer but by a Government pool of money once they declared an incident a terrorist incident. 

It’s very specific in so much as that the trigger for a terrorist claim to be bought is that the Government need to declare it as such. If they don’t, it would fall under maybe an accidental damage or malicious damage peril. 

Chouchou10

@JamieJ89 thanks a lot for your response