Surely if the property is mortgaged ,the banks are going to have a vested interest that the property is insured ,I would definitely go back to them and tell them your predicament ,if all else fails.
Oh God
This has happened to me too.. have no idea what to do.. my claim isn't even settled yet.. how can they be allowed to do this?? Contacted my Bank -don't match their!criteria either.. Anyone know how to resolve this? Current policy expires in 8 days?
I would have thought that if an accident in your neighbours house caused damage to your house there would be provision for you to claim from their insurance. I wasn't aware of that.
Did anyone above get any resolution for this issue? I'm in a similar situation. I received a registered letter from my broker today saying that our insurer (Finsure) would not be renewing our policy as we have made 2 claims in the last three years.
The first claim was due to a break in we had-replacing glass in door, damaged internal doors etc and came to around €800. The second and most recent quote was for water damaged floors due to a burst pipe and came in at just over €4k.
I didn't realise that the insurer would do this as it's not like car insurance-neither of the incidents were due to our negligence. I haven't started ringing around to other insurance providers yet. Should I tell them that our existing provider is not going to renew our policy, or should I just be upfront about the two claims but not mention our current provider and see what quote they offer?
Is your broker not offering you an alternative? It shouldnt be a problem if the claims are below €5k. Though the fact your original insurer was Finsure makes me think there was some thing non-standard about the property. is this the case?
No the broker has not offered us an alternative, which worries me. The house is completely standard, our broker just told us that Finsure had offered us the best quote last year which is why we went with that policy. Why, do Finsure normally only insure non standrad houses or something?
Personally I haven't seen them be hugely competitive in any quotes I've done in work recently. And the only things that I have placed with them were a property with a thatched roof, and a summer home that was very old with a new extension. They would insure all thengs but are generally better for those type which is why I asked! Why has your broker not offered an alternative? Has he said that he has no market for it or what reason has he given you?
Thanks for the response peteb. They did give us a very competitive quote last year which beat everyone else. However this year our broker sent us a letter saying that they would not be able to offer us a quote this year and they had tried and failed to secure us a quote anywhere else! They didn't offer us a reason, but did mention that home insurance quotes in general have gone up this year. I made some calls and thankfully secured a new policy with another company, although it was significantly higher than last year.
I feel quite disappointed that we are being penalised so heavily for having the misfortune to have our home broken into and suffering a burst water pipe. Will be thinking twice about putting any future claims through the insurance company. Seems it would probably be cheaper in the long run to just pay for the repairs yourself.