6:07 AM, 2nd May 2022, About 4 weeks ago 6
Does anyone have the same issues with insurers as I have? My insurance company has refused to renew my policy and every broker I have contacted since then comes back with the same reply – The Underwriters are unable to cover me.
The problem is a result of a fire in my property in October 2019. The property was extensively damaged and the total claim came to approx. £181k.
I renewed my policy with the same company – Simple Landlord Insurance in May 2020 and again in May 2021 – obviously with a vastly increased premium. As I was on the point of renewing in April this year I queried the rebuilding costs on the new policy.
I now noticed that I was dealing with Swinton’s Insurance who had taken on the Simple Landlord policies. I was taken through a variety of questions including whether I had made a claim in the last five years. I answered truthfully and was told that they would have to contact the underwriters before renewing. I heard nothing for a couple of weeks and when I rang them again they said they were unable to find an underwriter to take on my policy.
I have tried various Insurance Brokers and the same reply comes back to me. Because of the nature of my claim in 2019 they cannot find underwriters to insure me.
Surely other landlords have been in a similar position with fire damage and what have they been able to do?
At the moment it appears that I will have a Buy to Let property with a professional couple living there and with no Insurance Cover.
Perhaps someone can offer help.
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