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Home Insurer refusing to reinsure - is this allowed?!

edited 30 November -1 at 1:00AM in Insurance & Life Assurance
5 replies 862 views
maryjane01maryjane01 Forumite
456 Posts
edited 30 November -1 at 1:00AM in Insurance & Life Assurance
Fairly bog standard terrace house in London There is a very small stream behind our house which has never flooded, when we moved in over 10 years ago, our neighbours at the time (who had lived there 50 years at the time) confirmed this. Major flood prevention have been completed so a local park would flood rather than houses.

This year, our insurer have remodelled their flood maps, and now this year do not want to insure us - is this allowed?

We are feeling rather stuck as it is 3 weeks from renewal, and we are currently abroad - we moved out of the house nearly 12 months ago and paid a lot more for 'non standard' BTL home insurance. We were always covered by Halifax before this.

Additional complications: terrace house has a loft conversion, so a portion of the house has a flat felt roof (which we paid over 200 pounds to get inspected to comply with the insurance last year).

2nd complication, we have a side return extension with a glass lean to roof (which is actually not that uncommon in recently renovated London houses).

We can't pass any online quote requests. I don't know what to do, but seems so unfair an insurer can change their modelling and refuse to reinsure.

Any advice? It would be greatfully received.

Replies

  • dunstonhdunstonh Forumite
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    This year, our insurer have remodelled their flood maps, and now this year do not want to insure us - is this allowed?
    yes.
    I don't know what to do, but seems so unfair an insurer can change their modelling and refuse to reinsure.

    It's not unfair. it's inconvenient but changes happen for people and businesses. you dont have to buy from them and they dont have to offer you their services.
    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.
  • indesisivindesisiv Forumite
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    Most insurers rather than refuse to re-insure just give you a stupidly high quote a couple of thousand more than usual.

    But the short answer is yes they can refuse to do business with you for whatever reason and it sounds as though you have an unusual setup compared to everyone else or you'd be able to use the online tools. Just contact a broker and get them to sort it for you. Yours sounds exactly the reason that insurance brokers are set up to deal with.
    “Time is intended to be spent, not saved” - Alfred Wainwright
  • BlibbleBlibble Forumite
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    The insurer can conduct business with whoever they choose. There are no rules saying they *have* to offer cover.

    Contact a decent independent broker who should be able to set you up with something fairly cost effective.
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  • hucksterhuckster Forumite
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    Barclays Home Insurance and others are part of the Flood Re scheme, where Government has stepped in to cover the Insurers flood risk.

    You may find you can get a cheaper policy and similar cover to what you have had.

    I live near a river and was quoted silly premiums. With Flood Re, it brings the premiums down to average levels, as the flood risk is not a factor as such. The Insurers pay out for flood claims and the Government pays the Insurers back.
    The comments I post are personal opinion. Always refer to official information sources before relying on internet forums. If you have a problem with any organisation, enter into their official complaints process at the earliest opportunity, as sometimes complaints have to be started within a certain time frame.
  • SystemSystem Forumite
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    If you are confident it's not going to flood then surely you don't need flood insurance?
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