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Insurance for older house

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  • 18-04-2011 10:48am
    #1
    noel123ie
    Registered Users Posts: 285 ✭✭


    Hi all

    Ive a friend who is trying to get house insurance for an older house which is in Cork City and over 100 years old. This is needed before he can purchase this with mortgage

    He cannot get this as it seems as if this age of house is recently after becoming much harder to insure. This is a normal 3 bed terraced property

    Any ideas where he could go and would this be very expensive to insure

    Thanks all
    Noel


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    #2
    Otis Driftwood
    Closed Accounts Posts: 9,925 ✭✭✭Otis Driftwood


    Its not just the age of the property that could be the issue.

    There are a number of insurance companies that wont insure houses in certain areas of Cork City due to alot of subsidence history in that area.

    There are also other factors such as is the property occupied,claims history,when was it last re-roofed/plumbed and wired etc.

    Every insurance company has different underwriting criteria so their best bet is to ring around and see will they quote them at all.


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    #3
    coylemj
    Registered Users Posts: 25,437 ✭✭✭✭coylemj


    Probably too late for the OP but here's a piece of advice I spotted on an US news website relating to health insurance which would potentially be applicable to any kind of insurance where there is a risk of being refused....

    Apply for insurance to several insurance companies all at the same time, then you can truthfully say that you have not been refused. If you ask insurance company A for cover and they refuse, you will have to admit this to insurance company B if they ask you at which stage they will probably refuse you as well. By asking everyone for a quote at the same time you remove this risk as nobody has yet refused you.


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    #4
    Otis Driftwood
    Closed Accounts Posts: 9,925 ✭✭✭Otis Driftwood


    OP,do not take the above advice.Ive seen first hand and from the inside how insurance companies can get out of paying claims.The above is underhanded and for all intents and purpose's violates the rule of utmost good faith.Be 100% truthful with any quote you or your friend gets.Besides when it comes to home insurance it can be done instantly over the phone,online or face to face so it would be almost impossible to do what has been suggested above without being pre-meditated and knowing you will be refused.


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