Home insurance

[Deleted member 294929]

A customer of mine has had water damage but to what extent we don't really know.

I don't think it's alot of damage but she wants it inspected to see if a claim is worth it.

Q is if she makes the insurance company aware of the issue
and decides not to claim will it:
a) count as a claim
b) put up her premium the following year?

 

[Brigadier]

A customer of mine has had water damage but to what extent we don't really know.

I don't think it's alot of damage but she wants it inspected to see if a claim is worth it.

Q is if she makes the insurance company aware of the issue
and decides not to claim will it:
a) count as a claim
b) put up her premium the following year?

Did with me once, but that was 20 years ago.

Leak brought part of lounge ceiling down.
I made an enquiry to the insurance company about likely repairs, replacement of sofa, carpets etc (wet plaster on cream sofa wasn't a great look).

When they said they wouldn't replace, only clean, I told them to not bother.

Next renewal was significantly hiked. I called them.
Reason given - "escape of water" event.

I told them that I hadn't claimed, which they knew, and to do one.

 

[motorbiking]

There is a risk that not fixing the defect identified and reported is a breach of the terms of insurance. So is not notifying them about an issue.
They will loss adjust any claim where further negligence made the problem worse.

 

[Deleted member 294929]

Did with me once, but that was 20 years ago.

Leak brought part of lounge ceiling down.
I made an enquiry to the insurance company about likely repairs, replacement of sofa, carpets etc (wet plaster on cream sofa wasn't a great look).

When they said they wouldn't replace, only clean, I told them to not bother.

Next renewal was significantly hiked. I called them.
Reason given - "escape of water" event.

I told them that I hadn't claimed, which they knew, and to do one.

This happened to me also but with car insurance

 

[Dork Lard]

The correct answer is : You are asking the internets, you are not the proper person who should be inspecting her water damage & advising her of any possible insurance complications.

Motorbiking is close but neglects to mention that it should be the insurance Co's assessor that (coughs) assess's the situation & advises accordingly.

Anything else has complications . . . .

 

[Doug99]

I made a claim for storm damage to a boundary wall. The assessor recorded it as an old crack and refused my claim. I still had to declare the 'claim' at my next renewal

 

[Mottie]

Q is if she makes the insurance company aware of the issue
and decides not to claim will it:
a) count as a claim
b) put up her premium the following year?

a) No, but it will count as an 'incident'.
b) Yes.

 

[gas112]

one of the questions they now ask . Have you had any incidents in the last 5 years resulting in a claim or not

 

[HERTS P&D]

Yes to both.

Andy

 

[Eccles]

Unfortunately most folk don't realise that insurance companies are some of the biggest rascals on earth and will do almost anything to get even more money out of you. I decided twenty years ago to not buy "home" insurance anymore as I no longer had a mortgage but to make sure I always had £10k in savings "just in case". That £10k has earned a little interest over the years and I have saved £,000s in premiums not paid. You probably think I am mad but in a lifetime not many people suffer really serious damage such as a fire.

 

[motorbiking]

It's easy to forget that Home insurance provides you with public liability insurance and also the legal means to defend or pursue a claim. There are many examples where you could find yourself running up 10s of thousands protecting your assets.

 

[carmanmemoranda]

Unfortunately most folk don't realise that insurance companies are some of the biggest rascals on earth and will do almost anything to get even more money out of you. I decided twenty years ago to not buy "home" insurance anymore as I no longer had a mortgage but to make sure I always had £10k in savings "just in case". That £10k has earned a little interest over the years and I have saved £,000s in premiums not paid. You probably think I am mad but in a lifetime not many people suffer really serious damage such as a fire.

And 10k covers very little, especially any damage to other people or property.

The only thing to do with home insurance is to obtain quotes yearly. A pain but worthwhile.

 

[Eccles]

Seeing as I have no intention of damaging other folk or their property except perhaps by accident in my car which of course is insured anyway, I don't see the point and it's still a waste of money for most people because they do whatever they can not to pay.

 

[Brigadier]

Unfortunately most folk don't realise that insurance companies are some of the biggest rascals on earth and will do almost anything to get even more money out of you. I decided twenty years ago to not buy "home" insurance anymore as I no longer had a mortgage but to make sure I always had £10k in savings "just in case". That £10k has earned a little interest over the years and I have saved £,000s in premiums not paid. You probably think I am mad but in a lifetime not many people suffer really serious damage such as a fire.

Is it really worth it though, for the trivial amount saved?

My insurance has never been more than a couple of hundred quid p.a., for cover up to £1M.

 

[gas112]

Unfortunately most folk don't realise that insurance companies are some of the biggest rascals on earth and will do almost anything to get even more money out of you. I decided twenty years ago to not buy "home" insurance anymore as I no longer had a mortgage but to make sure I always had £10k in savings "just in case". That £10k has earned a little interest over the years and I have saved £,000s in premiums not paid. You probably think I am mad but in a lifetime not many people suffer really serious damage such as a fire.

Home insurance .
do you mean buildings insurance or contents insurance
If you mean buildings then you are off your nut especially if your not in a detached property