Monday, 16 November 2015
Types of Non-Standard Insurance
There are a number of ways you could be considered “non-standard” when it comes to home insurance. You might be thought of as non-standard as a result of your situation (be it personal or relating to the location/construction of your home), and because of this you are likely to find it hard to find the home insurance cover you need.
Types of Non-Standard Insurance
At HomeProtect we specialise in delivering online quotes to people in non-standard insurance situations, offering competitive deals to those who other insurers often will not consent to cover. For your reference, we have compiled a brief list of typical non-standard risks (below) to help customers understand the potential problems they may face when trying to get non-standard insurance.
Previously Flooded Properties Or Homes In A Flood Plain
If your house has been flooded in the past, or is at an elevated risk of being flooded because it sits in a known flood risk area, then getting cover can be costly. This is not limited to properties that sit beside the river or sea, but also those that might be at risk from other flooding sources as well.
Other factors, such as the state of existing flood defences or planned development of new defences, may also affect your chances of getting flooding insurance. If you take a proactive approach to flood preparation, you could also implement flood resistance/resilience measures to further aid your insurance prospects, but you are still likely to require a specialist insurer.
Properties With A History Of Subsidence Or Underpinning
Though subsidence cover is often included as standard in most insurance policies, if a claim has been made in the past for a subsidence related issue, many insurers will refuse to grant you cover. If you have had serious corrective measures undertaking, such as underpinning, then you are even less likely to get subsidence insurance. With a specialist non-standard insurer you are far more likely to get the cover you require at a competitive price. Your home should be judged on the risk it faces today, not on the risk faced while it was actually undergoing subsidence, but sadly this is not usually the way conventional insurance providers see things.
When You Work From Home
Many standard home insurance policies will cover you if you work from home on an occasional basis, have no work related visitors and only carry out basic administrative tasks, but not if your business use goes beyond this. Also, a standard policy is unlikely to cover your business contents, and the presence of such content may even invalidate your policy completely (as it could be said to increase the likely hood of theft occurring).
With HomeProtect you can get buildings cover complete with both your domestic and business contents insurance, to make sure your business equipment is fully protected alongside your personal belongings.
Business home insurance is not a substitute for the other working insurances you may require to protect your business, so further research may be needed depending on what type of work you do.
When Your House Is Unoccupied
If your house is empty for more than thirty days at a time, it is perceived as being at a greater risk than a house that is occupied and this is likely to be reflected in your insurance premium. Most insurers will not consider insuring an unoccupied home, but we will. There are a few basic precautions that you should take to secure a vacant property, and by taking these measures you may see more favourable responses from insurers when you apply for house insurance for unoccupied properties cover.
If You (Or Anyone in Your Household) Have Unspent Criminal Convictions
Many insurers are reluctant to insure someone with a criminal record, whether it is the policyholder or someone else living in the household. The unfair perception is that someone with a criminal record poses a greater risk; either by their behaviour, the chance that they may not be able to pay premiums if they return to prison or the chance that they might attempt to commit fraud. Specialist insurers like HomeProtect are advocates for ex-offenders' insurance rights and actively work with charities to make access to insurance more available for reformed offenders.
Properties Made Of Non-Standard Materials
If a home is built using anything other than the limited range of so called "standard materials" (typically brick/stone external walls with tiled/slate roofs), it is likely to be considered non-standard and will be harder to cover. With HomeProtect, providing your home is on fixed foundations and located within the UK, we can cover it with non-standard house insurance.