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M S E Refugee

Refused Home Insurance

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I have just tried to transfer my Home Insurance to my new House and my insurer has refused to insure my new Home as they say it is in a flood zone.

The house is close to the sea but has zero chance of flooding as it is on a hill,looks like I could be phoning round insurance companies for a few hours tomorrow.

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7 minutes ago, sarahbell said:

that'd a pisser. Is the environment flood risk map showing flooding risk?

When we bought nearly four years ago as part of the searches (I think) our solicitor provided us with something like a 12 page report of flood risk with probabilities of flooding in 100 and 300 years with maps etc as we are in a flood zone ie about 100 yards from the thames but in a part where they have done lots of work to prevent flooding. The maps and report came from I believe the department of the environment or some other government body. I would have expected your solicior to have covered this.

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All insurers need to know their exposure to a major event so that they can buy appropriate reinsurance.

Monitoring exposure can be done cheaply (postcode by the sea = flood risk) or expensively (full mapping system incorporating height).

If an insurer wants more of the business because it's highly profitable then they'll go for the latter; if not they'll go for the former and either price it high or refuse it as yours did.

There will be other insurers out their who want the business so do the mapping but you need to find them; I can't recommend any these days.

One co. at which I worked was able to massively increase their level of then profitable terrorism risk by going down to street level in major cities.  So that instead of saying you have a £30m exposure in Los Angeles you can map it and see that realistically you have 30 X £1m exposures so can write a lot more; confident that your maximum loss is £1m and not £30m.

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If you lived further up the hill, the insurers would be moaning about lightning, asteroids, and alien anal insertions. Try another insurer. I used to live on a designated flood plain. It never flooded. Basically if the whelks don't get to the top floor, you are pretty safe.

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Find out if your home is in the 1 in 100 or 1 in 1000 maps from the council and/or your survey, mine is in the 1 in 1000 year zone and I had a bit of a ballache trying to get insurance over it, plus a (now felled) tree within 50m. Just need to go to a specialist (£££) sadly.

Just thank your lucky stars your house isn't timber frame, I fucking hate home insurers.

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