Home Previous claim when looking to renew home insurance

J

Jumbo

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I am in the process of renewing home insurance,I called up one company after getting a quote online to proceed and pay for the policy and was asked about previous claims I answered yes one over a yr ago and i declared that online and was settled for under 5000. Claim was settled and i received a check for 4999 euro and sixty something cents however the insurance company said this figure needs to include the excess of 250 euro which was on my policy and brings the claim over 5000 euro so they can't insure me. also when looking at other companies they won't entertain anyone who has had a claim over 5000 in the last 3 yrs. I obtained insurance last yr only declaring the claim was 4999 as I believed this was the case and didn't know i had to add the excess. Anyone experiencing same problems? I assumed the claim was settled for the ridiculous amount of 4999 euro and 60 something cents so I was under the 5000 mark and able to obtain future insurance why else would such a random figure be used? Is it correct that I need to declare the claim as 5249 and not 4999?
Interested to hear other peoples experience Thanks in advance
 
Why did you not stay with the company that paid out the 4999.60. Your premium may have gone up, but at least you would be insured.
 
They went out of business so renewing with them wasn't an option
 
To be honest i can't remember wasn't a big name from what I remember they weren't totally goin out of business just not taking any more renewals in Ireland. Can you help with my question... Is it correct that I need to declare the claim as 5249 and not 4999? Thanks
 
The financial value of the previous loss was €5249, of which the OP was his/her own insurer for the first €250 of the loss. In my opinion, the previous claim was settled for an amount of €5249, less the excess and not for an amount of €4999. Therefore, the value of the previous claim should be disclosed at the gross amount, prior to deduction of the excess.

However, the only opinion that matters in determining whether the previous loss was €5249 or €4999, is that of the underwriter who will decide whether or not to accept the risk. What I would suggest to the OP is that he/she contacts a broker who will plead the case and hopefully get cover. The other alternative is to go to the lending institution ( if indeed there is one) and they should be able to influence an insurer with which they have a standing relationship, to take the risk.
 
Your post is a valuable warning to anybody who has a big claim to make sure you stay with the original insurer (even if premium increases) Otherwise no cover! Scary.

To get back to your original question; I think its pretty straightforward You were asked 'about previous CLAIMS' and your claim was for 5249.60, and you were paid this sum less your excess of 250 = 4999.60

There was nothing 'random' in arriving at this figure. You submitted details of your Loss, the underwriters approved your claim, the excess was deducted and you got your cheque.

Perhaps one of our insurance experts may add more light to your query.
 
to further point out the letter I got from the loss adjuster states settlement of 4999.52 as I coundnt renew with my then insurer for reasons stated above I obtained insurance from another company based on the information in the letter from the adjuster that the claim was settled for 4999.52. It is only now that I am looking around for renewal with other companies for this years policy that an insurance company mentioned my claim was actually for 5249 and not the 4999 that I thought and would have continued to think till then. Bare in mind i hadn't actually received the cheque just the letter at time of obtaining insurance so didn't know the excess wasn't included or should be even taken into account when asked about previous claims.
 
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