Home Insurance - be careful

[Befuddled]

"Insurance Recission" - this is where an insurance company will happily take your premiums, but when you try to make a claim, they will review your application / situation in great detail, and if they find any "issues", they will not honour the policy - but nor will they refund any premiums.

So when I was reinsuring my house in East Wall, in the comments field of my application I wrote (as I have done for the last 5 years) "This area is prone to flooding.". My insurer (123.ie) said they can no longer cover me, as their underwriter changed from Zurich to Travellers.

Now this isn't a comment on the insurers - they're just following their own policies. But IF you have a property in East Wall, or any area that is prone to flooding, you should check that you are actually covered.

 

[Ravima]

if an area is prone to flooding, then it is hard to find an insurer who will give flood cover. This is the same for subsidence.

When you say you were 'reinsuring' your house, what exactly do you mean. Was it a renewal of a policy, or was it a new policy replacing a cancelled/lapsed policy?

 

[onq]

"Insurance Recission"
<snip>

Now this isn't a comment on the insurers - they're just following their own policies. But IF you have a property in East Wall, or any area that is prone to flooding, you should check that you are actually covered.

You start on Insurance Recission, but end with an Insurer declining to offer you insurance - not the same thing.

You could see if they'll cover you for everything BUT flood risk.

Then keep all your valuables upstairs.

HTH

ONQ.