Home Insurance Discussion

Amy_L

Morning all,

I'm new to this Buildings&Contents insurance stuff. I'm in the process of completing on a house and am considering various insurance options.

My Flood report states that I have a High risk of flood and that I'm unlikely to be able to be insured at standard terms. However, this is not because I'm < 400m to a river, but more because of the high water table - the property is not too far from the River Trent in Nottingham.

So when i come to fill in various comparison websites and forms they all ask be about how far from water i am, but not so much on the water table Qs or even a "have you been told you can't have standard home insurance"-type question.

therefore, the quotes are indeed all coming out as the norm, and not taking into account this "High flood risk".

Is there something I'm missing?

dacouch

Has the home ever flooded?

Doc_N

Amy_L wrote: »

Morning all,

I'm new to this Buildings&Contents insurance stuff. I'm in the process of completing on a house and am considering various insurance options.

My Flood report states that I have a High risk of flood and that I'm unlikely to be able to be insured at standard terms. However, this is not because I'm < 400m to a river, but more because of the high water table - the property is not too far from the River Trent in Nottingham.

So when i come to fill in various comparison websites and forms they all ask be about how far from water i am, but not so much on the water table Qs or even a "have you been told you can't have standard home insurance"-type question.

therefore, the quotes are indeed all coming out as the norm, and not taking into account this "High flood risk".

Is there something I'm missing?

No - you're not missing anything. Provided you answer accurately all the questions asked by each individual insurer (and they do vary a fair bit) you'll be fine. It's up to each insurer to decide on the risk for an individual property and price the policy accordingly.

You may find questions on the distance of tall trees and shrubs from the house, and also on the distance of watercourses from the house. Almost certainly also questions on whether there has been any previous flooding, and on whether you've been refused insurance or quoted special terms.

The flood report isn't something you need to declare - because it isn't an insurance refusal or a quotation on special terms.

The key to it is to read very carefully the requirements of each insurer, and take very great care to answer the questions accurately and honestly. You may well find cover on perfectly normal terms.

Tactically, try first with policies that don't have 'problem' questions for your particular circumstances. That way, you're less likely to have to declare a refusal.

Amy_L

dacouch wrote: »

Has the home ever flooded?

Nope! That's according to the vendor who had lived there for >20 years.

rudekid48

ronpagg wrote: »

I think both is well but it totally depended on you thinking and ability. So you can get as well best.

Great advice.

Doc_N

ronpagg wrote: »

I think both is well but it totally depended on you thinking and ability. So you can get as well best.

rudekid48 wrote: »

Great advice.

Great advice, as you say, and a philosophy for life.

Puffin74

We had subsidence on part of our house due to a tree root damaging a drain which caused it to collapse and hence subsidence. This was duly repaired and tree removed but we still can't get cheap house insurance even though this happened over 20 years ago and nothing has moved since! As soon as you mention subsidence to any of the main insurers they cut you off and say they can't cover you. We currently have a policy with Santander which is very expensive. Does anyone know of an insurance company that would cover a house that's had subsidence (literally on a 10ft long section of the house!)?

Shouldn't insurance companies take into consideration the cause of subsidence ie land slip or tree root and the likely hood of it happening again??

Doc_N

Puffin74 wrote: »

We had subsidence on part of our house due to a tree root damaging a drain which caused it to collapse and hence subsidence. This was duly repaired and tree removed but we still can't get cheap house insurance even though this happened over 20 years ago and nothing has moved since! As soon as you mention subsidence to any of the main insurers they cut you off and say they can't cover you. We currently have a policy with Santander which is very expensive. Does anyone know of an insurance company that would cover a house that's had subsidence (literally on a 10ft long section of the house!)?

Shouldn't insurance companies take into consideration the cause of subsidence ie land slip or tree root and the likely hood of it happening again??

They should, but rarely do, because all the processes are automated.

I'd suggest you talk to one or two insurance brokers (ideally specialist brokers with a knowledge of this type of market). I'd guess that a good broker could find you a suitable policy at a reasonable price.

I'm assuming you've tried online and failed.

Puffin74

I've just managed to get 30% off my current household insurance via Santander as we've got one of their 123 accounts!!

Puffin74

Doc_N wrote: »

They should, but rarely do, because all the processes are automated.

I'd suggest you talk to one or two insurance brokers (ideally specialist brokers with a knowledge of this type of market). I'd guess that a good broker could find you a suitable policy at a reasonable price.

I'm assuming you've tried online and failed.

have only tried on line but may try a broker next time - thanks for the suggestion. I have actually just renewed with Santander as they've offered us 30% off premium as we have a 123 account with them. But next year I will definately shop around!