multiple property same deed insurance

monmondage

Afternoon,

So we have 50 acres Not a farm an old military site,  with a family home and two holiday flats on it.  Until this year we were able to approach the market via brokers and get some fairly reasonable quotes to cover both the business and the house all under the same policy. Buildings insurance on both and contents on the property.

Quotes would all be in the same ball park, until this year.

While going through the usual slog of approaching people, we are now getting turned away from almost all because the properties are on the same deed. 

Underwriters seem to have created this "not on the same deed" rule in the last 12 months and we are now being quoted £1500 to £2000 more for essentially the same policy from a limited set of underwriters.

I understand that building materials costs have gone stupid, but does anyone know a reason why this has now become so difficult and specific to the multi properties on same deed?

Does anyone have a similar situation and a reasonable quote and if so who from?

Thanks.

DullGreyGuy

Property insurance has done very badly for the last few years, as a consequence many insurers are being more selective about what they want to cover. 

We have different challenges than you but for years have been insured with M&S (Aviva) Premier but are now getting to the top of the limit they are willing to write to. Out of interest decided to approach brokers to look at Mid Net Worth home insurance just to see how much they'd quote, was expecting it to be about double what M&S charge but was surprised that it not a single one would quote. Probably won't be able to go with M&S unless happy to be under insured next year so hoping the market has improved somewhat by then... though the back to back storms are not a good sign.