A
A**
Guest
Hi All
Just looking for a bit of advice.
We have 4 houses - 3 rented and 1 our residence.
Just after Christmas, a boiler burst boiler damaged wood floors and boiler had to be replaced. We notified insurance company straight away. They in turn arranged for a loss adjuster to call and damage / replacement estimated €3-5K. I have carried out some repairs funded by myself. I have not agreed or settled on a claim with either insurance company or with loss adjustor.
A lot of insurance companies will not take on any of our houses for 3-5yrs because I have had a claim (for water damage) so I am stuck with the current insurers for a renewal quote only.. which means that they can charge what they like as I can't get insurance elsewhere.
The same insurance policy is up for renewal. I called them and they said as I had lost my no claims bonus, that insurance for this house would increase. Granted. However, on enquiring they tell me two more things which I am finding really had to verify.
1. As I have multiple houses and I have had a claim on one house, I lose my no claims bonus on THEM ALL. (I called the insurance federation and I felt that the response I got was not definitive... there was a lot of "I’d say..." and "surely they can't..." so I don't feel I can rely on that information.
2. I asked my current insurers if I decided not to proceed with a claim then I could protect my no claim bonus(es) on each of my properties - They have said because I notified them that there was claimable damage that there is records kept of damage on file with a note saying - claim not pursued. But that I still would have lost mu no claim bonus on the 4 properties.
Does anyone know anything about this?? I really have to get working on this asap as the renewal date is Friday.
Thanks
A
Just looking for a bit of advice.
We have 4 houses - 3 rented and 1 our residence.
Just after Christmas, a boiler burst boiler damaged wood floors and boiler had to be replaced. We notified insurance company straight away. They in turn arranged for a loss adjuster to call and damage / replacement estimated €3-5K. I have carried out some repairs funded by myself. I have not agreed or settled on a claim with either insurance company or with loss adjustor.
A lot of insurance companies will not take on any of our houses for 3-5yrs because I have had a claim (for water damage) so I am stuck with the current insurers for a renewal quote only.. which means that they can charge what they like as I can't get insurance elsewhere.
The same insurance policy is up for renewal. I called them and they said as I had lost my no claims bonus, that insurance for this house would increase. Granted. However, on enquiring they tell me two more things which I am finding really had to verify.
1. As I have multiple houses and I have had a claim on one house, I lose my no claims bonus on THEM ALL. (I called the insurance federation and I felt that the response I got was not definitive... there was a lot of "I’d say..." and "surely they can't..." so I don't feel I can rely on that information.
2. I asked my current insurers if I decided not to proceed with a claim then I could protect my no claim bonus(es) on each of my properties - They have said because I notified them that there was claimable damage that there is records kept of damage on file with a note saying - claim not pursued. But that I still would have lost mu no claim bonus on the 4 properties.
Does anyone know anything about this?? I really have to get working on this asap as the renewal date is Friday.
Thanks
A