Will our home insurance premium go up if they pay for a new roof because of a hail storm? Or will the premium go up for everyone in the area?

I own a commecial building in A8 flood zone and I have a mortgage that stipulates flood insurance. My flood insurance is abot 00 a year, and rents are falling. Is there any way I can talk lender into dropping flood insurance? The first floor is unoccupied, so even 8 foot flood would not affect rental income. The building is more then 100 years old and never expirienced flood as far as I can tell.

With the rise of insurance comparison websites, consumers are being driven to find the cheapest insurance policy – forgetting that the point of insurance is to cover for individual needs.

Unfortunately, a number of insurers are chasing price points in response to consumer demands, compounding the problem. This is not least where there are already individual insurance companies already targeting the budget section of insurance markets.

The problem of course being that the danger increasingly becomes one of consumers buying into home insurance on price alone, without properly checking that they have adequate cover for their individual circumstances.

Additionally, many consumers simply do not realise, or care to consider, that cheaper insurance tends to come at the cost of support. Which is fine so long as everything is running smoothly, but causes stress when a claim needs to be filed.

Ironically, as A1 brokers recently found when comparing home insurance reviews, some of the big name insurance companies are still able to compete on price, even against traditional budget insurers. The caveat being that many of these bigger insurers have well-established claims procedures and the support structure to go with them.

Of course, while it benefits the consumer to know that insurance markets are so competitive, the big concern is to ensure that cover is more than adequate.

What many people do not realise is that there are a number of exclusions that can apply for any individual home insurance policy – whether for contents, buildings, or both – which may not come up on a direct price comparison.

Common exclusions can be based on location, building age, and even the status of the person looking for insurance.

Even where cover is exactly what the consumer needs, they still need to be careful they go with an insurance company with proper support in the event of a claim. As the house insurance blog recently commented, “budget providers come under particular fire for not providing enough support or clearing claims faster.”

In other words, there are two key lessons for consumers:

1. Ensure you are properly covered

2. Ensure you are covered by a reputable and reliable company.

There are plenty of review websites out there, and searching for “review” of a particular home insurance policy or insurer should help identify some of the better insurance options out there.

Either way, the key lesson is that budget home insurance may not always be the cheapest in the long run, and that in many instances, as with all consumer products, “you get what you pay for”.

my bf & i had a house fire last yr & the landlord had insurance on the duplex but we didnt have renter insur. Now the landlords insurance company is putting us at fult, which it kind of was, & demanding for more money than the duplex is worth & threating to repo anything we own. & now we saw that they tore it all down & put the lot up for sale. can they really ask for that money & repo anything we own?
ok. the amount is 8,000. theres no way in hell we’re going to pay that. we can barley afford rent now. That would take our whole lives to pay that off. & I for one would like to enjoy my life & spend my extra money on whatever i want, not worrying about this.

As far as giving them a large sum for them to take instead…. they can have 0 & kiss my ass
& we had only lived there for 2 weeks. we were still in the process of moving stuff in. lucky that stuff was saved. but we just didnt plan on getting renters insur right away. we were planning on getting it that next week after we got our paychecks.

Someone broke into my house yesterday. Do I have to pay a deductible if I fle a claim under my insurance? They stold our tv, house phone, PS2 & 3 , laptop and other things. Our deductible is 1200.00, insurance company is Texas Fair Plan in TX.

I am purchasing my first home, and getting quotes on home ins. How does it work if you decide to use your escrow account? Is this your home’s escrow account? I know you would need to bring your 1st years premium to closing, but just a little unsure of how this works. Would this mean I would not have a monthly payment to the ins. company? Newbie here, and need all the advice I can get!

I own one of 6 flats in an listed tenement building.

We have had a factor for 2 years but they have not been very good at all. We recently voted to get rid of the factor and to try self factoring.

However, I am struggling to find reasonable sources of shared building insurance (the factor previously managed this and one home owner has had major issues with the insurance company and wants to end that contract too).

I wondered if anybody out there has self factored?

What kind of issues came up?

Any sources of advice?

How did you manage building insurance for shared areas as a self factor?

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