If you are looking for low cost life insurance, consider a high risk house insurance policy. Life insurance for people with high risk lifestyles is often quite expensive and can be difficult to find. Many policies are also quite useless because the person applying tends to be refused the policy on the grounds of pre-existing illness or other issues. If you fall into this category, then do not despair – there are options available for you. Read on…
It is extremely unlikely that your landlord would ever reject a tenant for high risk house insurance. However, you may have had a previous application turned down by one or more insurance companies. This means that you have either found yourself on the fringes of the insurance companies marketplace (which you should not be, as this market is highly competitive) or that you have been rejected because your possessions have some sort of monetary value attached to them. The best way to get your possessions covered again is to get a separate renter’s property cover or replacement policy.
It is unlikely that your home would be on the fringes of the insurance companies’ market. Your property may well be in perfect condition. It may even be in a position to raise the amount of your cover successfully. The most effective way of getting your contents insurance back up to scratch after having applied for high risk house insurance is to take out a fresh policy. Simply follow the same procedure as you did when insuring your rental property.
You may think that you would be refused a claim by one or more insurers for the simple reason that you are deemed to be of an increased risk. This can happen if you have certain behaviours or attributes. For example, if you have smokers in your home may mean that your home may be considered to be high risk. Similarly, being a former burglar or if your home has numerous light bulbs instead of just one may also attract insurers.
A key feature of high risk car insurance quotes is that they are designed to attract people who are regarded as being a higher risk than other homeowners. Many of these policies will be referred to as non standard policies. This means that you are likely to be refused if you are not a standard customer by one or more insurers. It is worth checking with a number of different insurers about whether you are offered a suitable quote based upon your circumstances. As you will probably want to remain covered for a while after the policy expires, you should still check that you have received an adequate offer.
The second step in looking for high risk car insurance quotes is to compare several providers. Once you know how much cover you need you can start contacting various insurers to ask them about their rates and prices for high-risk policies. Of course, bear in mind that all auto insurance policies are going to come at varying premiums. You will need to take this into account when comparing quotes between companies.
If you are refused a quote by a majority of insurers it could be down to one or more factors. Insurers who are refused quotations are considered to be ‘highly unsatisfactory’ by the majority of insurers and as such are automatically rejected by their customers. If you have applied for home insurance policy and been refused then you should raise this matter with your insurer and try to work out what the problem is. Some examples of things which could result in rejection include being too old to make a claim, your having a non standard home or being in a class or substandard area.
The final step involved in this process is to get a valuation of your property. If your property is high value then it will be of greater value to most insurers than if it was relatively cheap. A typical way in which a valuation will be carried out is by checking it against the estimated value of your home. One thing to remember about these appraisals is that they should never be under any illusion that the appraisal is entirely accurate. Your actual cash value policy may undervalue your home by hundreds of pounds but an insurer may perceive that your home is worth significantly less.