Strata insurance + flood exception

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keepon

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Wondering if anyone has experience of Strata? I hadn't heard of them until a broker gave me a quote from them for home insurance.

They are offering cover, competitively priced, but without flood insurance because the plumbing is over 25 years old.

I asked the broker if I would be insured if a pipe leaked or similar: he claimed that I would, and that the exception only applied to a natural cause. ((My house is by the coast but quite high up but of course we have the warnings about sea levels).

Our options for insurer are limited because of the age of the property.

Any comments welcome.
 
Flood cover is not the same as escape of water ( burst pipes etc) so the broker is correct. You will need to look at the other exclusions and warranties on your Strata quote, if it's an older property they may well have other cover reductions or warranties.

The fact your broker is using Strata for these types of risk would worry me a little, there are other insurers I would prefer to be with, there are options for older non standard properties that are better than Strata. You should try another larger broker who has access to wider markets.

You will get a quote with Arachas for this type of risk and depending on the detail of the risk you will get more than 1 option
 
Tried Arachas. They came back with a much higher quote.

I'm tempted to go with Strata, especially given patm''s explanation of the distinction between flood and escape of water.
 
Surely the broker is spoofing? If the age of the plumbing is being discussed as an issue, why would flooding due to natural causes be excluded but burst pipes be covered? That doesn’t make sense.
 
if they are asking if the plumbing has been updated in the last 25 years, then they've probably asked because the house is over 100 years old. But the OP hasnt stated that.
 
Yes, the house is over 100 years old.

I agree that it doesn't make sense that flooding is excluded, but hey-ho, it's Irish insurance.
 
keepon said:
I agree that it doesn't make sense that flooding is excluded, but hey-ho, it's Irish insurance.
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Have you checked the flooding maps? It's common for flood insurance to be refused in areas marked as at risk.
 
Leo said:
Have you checked the flooding maps? It's common for flood insurance to be refused in areas marked as at risk.
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No. I wasn't aware that these existed, but shall try to find them, thanks.
 
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I would assume he asked the 25 year question given the age but it has zero to do with your flood risk. The broker would never have said that was the reason flood was excluded.

If they were unhappy with the age of the plumbing they would just exclude escape of water claims or apply a higher excess.
 
The broker has clarified that the flood exception is because there is a basement in the property, and that it has nothing to do with the plumbing. Sorry -- I got the wrong end of the stick.

I looked at various flood risk maps and we stay dry even with 2m of sea level rise.
 
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