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Cannot get insurance on my new build house
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longsleeves
Posts: 1 Newbie
Hi Everyone,
It's my first post, and I need some advice. I moved from a private rental property into a new build government-backed rent-to-buy scheme property. We had the usual hassles of our address not being registered with Royal Mail. This was sorted about six weeks ago. I still find many websites don't recognise our address, which is mostly just inconvenient, except when it comes to house and contents insurance.
When I provided my new address to my current home contents insurance provider, they immediately cancelled and invalidated my insurance without notice. As a result, I had to take out removals insurance in case of an emergency. However, I still can't find an insurer willing to cover my contents because we are not yet listed on various insurance databases for risks, etc. (which is what my former contents insurer told me). The only exception is Axa through this website, but at a cost of over £1k! No other companies show up on any of the other comparison sites either. The insurers not listed on comparison sites also won't let me make an application because of the address.
My local council assures me that we are on the flood-risk database, and Royal Mail assures me that they have done everything on their end. My home builder and housing association, which organised the rent-to-buy scheme, say it’s nothing to do with them. What can I do to get contents insurance? I'm having sleepless nights, worried about being financially wiped out with no recourse if the worst should happen!
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Comments
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Hello
It's an ongoing thing that builders don't tell you. Looks like the builders have done their bit
From 2016 - new builds lack of data - insurance etc
https://www.moneysavingexpert.com/news/2016/11/lack-of-data-on-new-build-homes-causes-chaos-for-insurance-customers-as-non-existent-postcodes-trigger-policy-cancellations/0 -
Assuming you applied for a mortgage didn't the mortgage provider require proof of insurance before releasing funds? Or don't they do that any more?0
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If the worst comes to the worst and you can't find a better deal, are you in a position to pay AXA the £1000 they are asking for?
The situation should resolve itself once the databases catch up with the new addresses. So you could check the comparison sites regularly and cancel the AXA policy as soon as you can find a better deal elsewhere. You should generally get a more or less pro rata refund, less a cancellation fee of a few tens of pounds, on cancelling provided you haven't made any claims in the meantime so the thousand pounds (or most of it at least) doesn't have to be lost forever.0 -
TELLIT01 said:Assuming you applied for a mortgage didn't the mortgage provider require proof of insurance before releasing funds? Or don't they do that any more?2
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TELLIT01 said:Assuming you applied for a mortgage didn't the mortgage provider require proof of insurance before releasing funds? Or don't they do that any more?0
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