Independent Insurance advisor

Is there such a thing as an independent insurance advisor who might be able to help me get out of an awkward home insurance situation? Not looking for a broker.

Comments

  • You might need to explain more about the "situation".

    If it involves a claim, then a loss assessor could be right for you.  If it's about what policy to take, then in some circumstances an IFA might be appropriate.  Equally, it might be neither of those things.
  • it’s it’s about correcting a long standing error in the statement of facts, that we only just noticed. 
  • DullGreyGuy
    DullGreyGuy Posts: 9,202
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    it’s it’s about correcting a long standing error in the statement of facts, that we only just noticed. 
    Who is your current policy with?
    How long have you been with them?
    Is there a claim in progress/about to happen?

    What do you want this "advisor" to do? Deal with informing your current provider of the issue or something else?

    Brokers, though not all, are the advisory side of insurance for sales & service

    For Claims its brokers or loss assessors depending on if you want a bit of advice or someone to fully take on dealing with the claim for you. 
  • It’s insurance through the Building soc we had our original mortgage with. House had historical movement which was declared. 1993 this was. 
    In 2000 had new rear extension built, defective design meant it settled excessively and needed ground stabilisation eventually done 2011. Couldn’t claim because engineer sent by insurers said cause was defective design, but insurer clearly aware of the issue. 
    we stayed with same insurers despite changing mortgage because we wanted continuity, given the history. BUT I think they changed underwriters or something about 7 years ago and it looks like mrs Ramone didn’t answer the historical subsidence question correctly on a new proposal form. Maybe not paying enough attention because we thought the insurers knew all about it. 
    A couple of years ago, wanting to be squeaky clean, I sent an engineers report on a historic small crack, which they acknowledged, although it doesn’t seem to have gone on the record.
    Anyhoo in the interim we haven’t read the renewals properly and have only just noticed that they think there’s been no subsidence. There is no need to make any claim under subsidence and I’m sure we wouldn’t be covered anyway. We have made 3 small claims for blocked drains under the home emergency section. 

    What a mess we’ve made. I’m not expecting current insurers to carry on covering us but I’d like to avoid getting cancelled.

    any replies on best course of action gratefully received, except those telling us we’ve messed up. We are already aware of that.
  • Personally, I wouldn't involve a third party.  I'd just get in touch with the insurer yourself and be direct and up front about it.

    If they don't want your business any more, then I'd consider involving a broker to find your next policy.

    I don't work on that side of insurance though - other's advice may vary.
  • DullGreyGuy
    DullGreyGuy Posts: 9,202
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    Was the historic movement subsidence? Settlement? Something else?

    If you have bought from a building societies' branded insurance then it will be a non-advised sale. Even were you to employ some form of "advisor" they'd be dealing with call centre agents and so not a meaningful debate to be had but nor would it be a David -v- Goliath type showdown despite the imbalance of knowledge. 

    Do you have a mortgage? It sounds like you'd be accepting of subsidence being excluded?
  • Not mortgaged - paid it off last Friday.
    yes, we’d accept cover excluding subsidence.

    historic movement (from 1976, according to vendors) apparently subsidence caused by tree near back of house.

    movement in new rear extension was excessive settlement of new build owing to defective design. Insurers sent engineer but that’s not covered.
     But it looks like the BS changed their underwriter and we answered the historical subsidence Q wrong when signing up with new underwriter and this info was not carried across.

  • dunstonh
    dunstonh Posts: 115,739
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     But it looks like the BS changed their underwriter and we answered the historical subsidence Q wrong when signing up with new underwriter and this info was not carried across.
    If the BS changed underwriter then it would not normally involve asking new questions as the underwriter would continue the same terms.     However, banks and building societies routinely update their product range and the new products will have different underwriters.   A product change would involve new insurance questions being asked and based on what you have said, that appears to be what happened.


    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.
  • Thanks for input all. I’ve spoken to my insurers and clarified the situation. Fingers crossed.
  • DullGreyGuy
    DullGreyGuy Posts: 9,202
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    dunstonh said:
     But it looks like the BS changed their underwriter and we answered the historical subsidence Q wrong when signing up with new underwriter and this info was not carried across.
    If the BS changed underwriter then it would not normally involve asking new questions as the underwriter would continue the same terms.     However, banks and building societies routinely update their product range and the new products will have different underwriters.   A product change would involve new insurance questions being asked and based on what you have said, that appears to be what happened.
    Certainly not always, in some cases the white label owns the customer and so the data is passed from one underwriter to the next... you cannot transfer in flight policies or historic ones, that requires a part VII transfer, but you can send them a quote from your brand as a renewal with the new underwriter. 

    Have been on both side of the coin... when my white labeled Home insurance switched from Axa to Aviva and when a white label left a client and they sent all the data printed on A4 paper in no particular order as the contract required the data share but didn't specify how or that reasonableness had to be taken. 
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