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Home Insurance Premium Shot Up 3x - Suddenly My Postcode is a Subsidence Risk??

Hello All.

My home and contents insurance with esure has gone from around £300 to £1000. Very nearly 50 years living at this address and suddenly, for the first time, we're a subsidence risk!

What could this all be about? I understand there needs to be more than one property making a claim within a given period for the postcode to be flagged as a risk. Never seen any evidence of subsidence in the area. Not a clay-y ground, the trees on the other side of the street were all felled a few years ago due to disease (or so we were told) and the trees on the garden side (in this row of Victorian terraces) have been here forever.

What could be going on? Could it be an error? This is nuts.


  • DullGreyGuy
    DullGreyGuy Posts: 11,548 Forumite
    First Post First Anniversary Name Dropper
    Could be an error, insurers buy their risk maps from various organisations and then layer on top their own experience. 

    You mention eSure is now £1k but have you shopped around? Many use similar data sources but each insurers own experience is unique so if universally prices have tripled then you are more looking at someone like the Coal Board having now advised historic mining happened in the area when previously not thought so or RMS having updated their model and marked the area as high risk. 
  • dunstonh
    dunstonh Posts: 116,833 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    My home and contents insurance with esure has gone from around £300 to £1000. Very nearly 50 years living at this address and suddenly, for the first time, we're a subsidence risk!
    How do you know that you are a subsidence risk?    More often than not it is movement risk (especially after a drought year which has seen claims due to movement increase significantly)

    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • huckster
    huckster Posts: 4,876 Forumite
    First Anniversary Name Dropper First Post
    The Insurance company don't want to Insure as many houses in that area, so don't really want you to stay with them, so they have increased premium to make you shop around.

    Insurance premiums have increased quite a lot, but to treble the amount suggests they don't want your business.
    The comments I post are personal opinion. Always refer to official information sources before relying on internet forums. If you have a problem with any organisation, enter into their official complaints process at the earliest opportunity, as sometimes complaints have to be started within a certain time frame.
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