When you start a quote, home insurance providers may ask whether you have ever had a policy cancelled or refused. You have a duty to answer the questions asked honestly and to the best of your knowledge. By answering 'Yes' truthfully, you will likely be asked several follow-up questions. This is so that your potential insurer can assess the risk to underwrite your policy and provide adequate cover.
There can be several reasons for a refusal. for instance, if a high value claim has been paid or your circumstances have changed since the original policy was taken out. In some cases, an insurance provider may not be able to offer cover because you didn't meet an underwriter's criteria. It all depends on your personal and property circumstances.
It can be difficult to find cover from another provider after a refusal to renew or a cancellation notice but it is worth taking the following steps:
1. Speak with your insurer to find out why your policy has been cancelled.
2. Resolve the issue if possible and ask for your cover to be reinstated.
3. Make a complaint to your insurer in writing.
4. Contact the Financial Ombudsman if you think your insurer is not treating you fairly.
5. If your current insurer does not reinstate the policy, contact a specialist insurance provider.
Your house insurance provider has the right to cancel your policy in certain circumstances, such as failed payments, fraud or failure to disclose a change in circumstances or a change to the property.
At HomeProtect we understand your situation and do not believe that you are uninsurable. We can provide a home insurance quote online in 97% of cases, even if you have been refused insurance in the past.
When you are refused insurance it means that the provider has decided not to provide cover for your property or belongings. This may be because you do not meet the terms of their underwriters, or it may be because of a change in your circumstances which means you are perceived to be a greater risk to insure.
When applying for insurance, if you do not, when asked, tell your insurer something that is relevant such as having a criminal conviction, then you could be refused house insurance.
If you have been declined insurance in the past then it is best to seek a home insurance quote from a specialist provider. Specialist home insurance providers are likely to better understand your needs and be able to cover your home and contents for a reasonable cost.
Yes, your home insurance premium is calculated using a number of factors. Flood risk is one of them, as well as previous claims. If you live in a high flood risk area then you are likely to have to pay more for cover. You may also find that standard insurers refuse to provide cover.
You must inform your insurance provider of changes to your home such as letting a room to lodgers, making structural renovations, installing a burglar alarm or door locks, leaving the house empty for more than 30 consecutive days.