Non renewal of current car and house insurers

Redshoogi

I have received 2 emails from my current car (Rias} and home insurance (Sky) companies stating ‘they are unable to offer cover as you no longer meet our eligibility and/or acceptance criteria’. I have never made a claim on either insurance policy. I rang them and were told that the underwriters Aegis no longer cover my postcode. I live in a small town in Essex and was not aware that I was living in ‘crimewave central’. I have renewed my policies with other companies now but I was wondering if any one else has experienced this issue?

Woodstok2000

https://forums.moneysavingexpert.com/discussion/6678843/non-renewal-of-current-car-and-house-insurers

Underwriters change their acceptance criteria all the time to manage risk across their portfolio.

MyRealNameToo

Its nothing personal, happens all the time, also doesnt mean it will last forever, next year they may be happy to insure you again.

Insurers have to be concerned about not only claims but also things like risk concentration… if you find you are insuring too many people in the same place, same vehicle etc you may decide you want to reduce the concentration and stop quoting until you are comfortable that the concentration has reduced enough.

Did a lot of work in this several years ago where lots of the country level reportings by class of business said that they were all happy that all exposures were within the concentration limit but no one had thought that places like Canary Wharf were being maxed out by the UK Property, French Property, US Property, UK A&H individually and no one had thought to add them up and see what the overall exposure was… had there been a major terrorist event, could have been a major problem

TELLIT01

On the home insurance it's something which may become more and more common with the extremes of weather we are now experiencing. Whether it be many more subsidence claims from those on clay soil, or wider flooding in winter months, the risks change and therefore so does the insurers appetite for insuring certain areas.