Insurance after the fact

nickmcgine
nickmcgine Posts: 2 Newbie
in Insurance & life assurance
I live in an oldish house (100 yrs +) and, like an idiot, forgot to renew my home insurance. Naturally, I have now had a pretty catastrophic leak in a flat roof, causing a great deal of damage. If I reinsured, now, would I have a chance of making a claim (i.e. would it be worth it)? I am currently off sick from work, so not exactly flush.

Thank you

Comments

  • Sea_Shell
    Sea_Shell Posts: 9,340 Forumite
    First Anniversary Photogenic Name Dropper First Post
    edited 11 December 2019 at 4:22PM
    Flat roofs are notorious for "wear and tear" issues, so irrespective of the fraudulent aspect of trying to buy after the fact insurance, it may not even be covered anyway!!

    To claim for storm damage, you'd have to say exactly WHEN the damage occurred, as they'll check weather records in your area!!!
    How's it going, AKA, Nutwatch? - 12 month spends to date = 2.31% of current retirement "pot" (as at end March 2024)
  • Dangermac
    Dangermac Posts: 557 Forumite
    nickmcgine wrote: »
    I live in an oldish house (100 yrs +) and, like an idiot, forgot to renew my home insurance. Naturally, I have now had a pretty catastrophic leak in a flat roof, causing a great deal of damage. If I reinsured, now, would I have a chance of making a claim (i.e. would it be worth it)? I am currently off sick from work, so not exactly flush.

    Thank you

    Insurance is normally for situations that are unexpected, as opposed to things that have already occurred.

    You may have found a gap in the market - it would probably be quite a popular product - after-the-event household insurance.

    DM
  • Mistral001
    Mistral001 Posts: 5,349 Forumite
    First Anniversary Name Dropper First Post I've been Money Tipped!
    What the OP is suggesting is attempted insurance fraud. Pretty daft thing to attempt as even if your premiums were paid up before the leak occurred, it is unlikely you would have a successful claim as pointed out by those above.

    A bit like attempting to rob a bank safe to find it empty. You would probably still be up before the courts.
  • Weighty1
    Weighty1 Posts: 1,179 Forumite
    First Anniversary First Post Name Dropper
    Dangermac wrote: »
    You may have found a gap in the market - it would probably be quite a popular product - after-the-event household insurance.
    DM

    Quite popular, I reckon it'd be the best selling product on the market! :D
  • Old_Lifer
    Old_Lifer Posts: 780 Forumite
    First Post First Anniversary
    Yes indeed and presumably if you hadn't had an event you would be charged a higher premium.
  • Dangermac
    Dangermac Posts: 557 Forumite
    Old_Lifer wrote: »
    Yes indeed and presumably if you hadn't had an event you would be charged a higher premium.

    Absolutely. It will really shake up the industry!!
  • Sea_Shell
    Sea_Shell Posts: 9,340 Forumite
    First Anniversary Photogenic Name Dropper First Post
    Will the OP come back, I wonder?
    How's it going, AKA, Nutwatch? - 12 month spends to date = 2.31% of current retirement "pot" (as at end March 2024)
  • Dangermac
    Dangermac Posts: 557 Forumite
    Sea_Shell wrote: »
    Will the OP come back, I wonder?

    Not until he's written his business plan and letter to Alan Sugar
  • nickmcgine
    nickmcgine Posts: 2 Newbie
    I wan't suggesting insurance fraud; I've always been upfront with banks, doctors, etc. :A
    I suppose I should just chalk this up to experience (whilst kicking myself very hard).
    A friend suggested to auction the place and, basically, shrug manfully. I think that I'll follow his advice.

    Hey ho...
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