Insurance - is it the biggest fiddle in the world?

[Lickashot]

Depends who you are insured with. Generally, you get what you pay for.

 

[kripton]

I will never now insure with Saga - we had a subsidence claim in 1990, this was properly dealt with, and Saga (who took over from the original insurers) then carried on (with full knowledge of the claim etc) - premiums around £600-£800 until 2010. Premiums then rocketed, doubling in 2011 then again the following year. I complained and was told "this was because they had changed their underwriters" - I then had a structural survey carried out which revealed no issues whatsoever and approached other insurers through my bankers (3 different banks) but as we had "a history of subsidence" none of the bank's insurers wanted to know. I also contacted NFU but even after seeing the survey report they declined cover and "would not cover properties in the valley due to groundwater issues". I Know there was a very substantial claim against NFU from another large property in the valley and suspect this was why they were rather "shy". We do now have reasonable cover including guns fishing tackle and accessories at about £1,000.00 a year (arranged by my daughter-in-law who lives with my eldest son in the main house - my wife and I live in the annexe)

 

[teyhan1]

Just had my renewal through after the flood.
Premium as expected gone up from 900 to 1300 per year. Not too bad.
Flood excess gone from 500 to
(Drum roll)
£25,000
I think they’re telling us to take our business elsewhere.

 

[SAUER20222250]

Legalised theft....

 

[kes]

Just had my renewal through after the flood.
Premium as expected gone up from 900 to 1300 per year. Not too bad.
Flood excess gone from 500 to
(Drum roll)
£25,000
I think they’re telling us to take our business elsewhere.

Absolutely appalling - again, government inquiry called for, as flooding is now not simply affecting properties built on flood plains which (IMHO) the original builders should pay the insurance excess for. So-called global warming affects many, previously, 'no flooding risk' households.

 

[sh1kar]

Just had my renewal through after the flood.
Premium as expected gone up from 900 to 1300 per year. Not too bad.
Flood excess gone from 500 to
(Drum roll)
£25,000
I think they’re telling us to take our business elsewhere.

I think I would be taking that up with Ombudsman

S

 

[teyhan1]

Just had my renewal through after the flood.
Premium as expected gone up from 900 to 1300 per year. Not too bad.
Flood excess gone from 500 to
(Drum roll)
£25,000
I think they’re telling us to take our business elsewhere.

Just going further on this we contacted NFU.
No problem with insuring you they saidand the excess is affordable too as it is part of the governments Flood Re scheme.
But then they said that they can’t insure us until the work is done as they don’t insure uninhabitable houses.
So we are left in the situation of having to stay with an insurer until the house is done (AXA by the way) that might stop £25k out of a flood claim just as the house is finished!!

 

[kes]

Just going further on this we contacted NFU.
No problem with insuring you they saidand the excess is affordable too as it is part of the governments Flood Re scheme.
But then they said that they can’t insure us until the work is done as they don’t insure uninhabitable houses.
So we are left in the situation of having to stay with an insurer until the house is done (AXA by the way) that might stop £25k out of a flood claim just as the house is finished!!

I'd be very tempted to set these circumstances out in a letter to my MP, DEFRA, and whoever is Minister for the Environment and also ask what the Government flood insurance scheme was intended to improve. as I said before your insurer is behaving appallingly.