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Is an insurance co declining to give a quote the same as 'being declined insurance'?

(3 Posts)
ExAstris Wed 20-May-15 19:54:53

We're currently trying to get our home insurance renewed so shopping around. Problem is, we live in an old mining area and as with most houses in the area, there is a history of subsidence on our property. It showed up on searches when the previous owners (a relative of ours) bought the house in 2006 but not on our searches when we bought from them in 2013. I believe the actual subsidence was in the 1980's, there was some fixing/compensation from the coal board, and no problems since. So even though we've been possibly too honest for our own good in declaring stuff to our mortgage company and previous insurers re subsidence we only know about because we know the previous owners, we haven't generally had problems getting insurance as there are several companies who are only bothered if the subsidence was more recent - 10-15 years.

But this year we're trying to also find an insurer that doesn't mind my working from home (seeing clients, which a lot of insurers won't insure because of), so we rang a specialist broker whose panel all happily insure people working from home. At least one of their insurers, though, is balking at the subsidence and asking for a Certificate of Structural Adequacy or something. My DH is worried they're going to refuse to quote, and says if they refuse to quote (as opposed to quoting an astronomical figure or restricted terms or something) we will have to declare this when trying to find insurance in future, when asked, "Have you ever been declined insurance?" I can't believe that that's what that question means - surely it's no different to when GoCompare or whoever don't list a particular company as offering a quote in your circumstances? DH's stance seems to be backed up by the chap from the broker, mine a bit by googling. Can anyone clarify?

Bit of an essay, sorry! blush

TensionWheelsCoolHeels Thu 21-May-15 00:05:34

I'm not an expert so I might be talking nonsense - my understanding is being declined insurance relates to a policy either being voided mid term or back to inception, or where renewal is barred/declined. Usually for a policy to be dealt with in that way, there is a major issue behind that decision & it highlights someone who has possibly withheld material information which affects the decision made when calculating the premium/risk either deliberately or unintentionally. An insurer who won't quote is different because they are in possession of all the correct information & simply assess the risk involved is too great/expensive for them to quote for i.e. it doesn't fit their business portfolio. Does that make sense? Again, I could be wrong as I don't deal with that side of things - I just deal with claims.

ExAstris Fri 22-May-15 09:39:56

Thank you. It seems they're happy to quote anyway, but thank you for agreeing with me and not DH! smile

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