TelegramSam
New member
Hi all,
Been a while since I've posted here, but I do lurk! Looking for some advice...
I'm a first-time buyer and I'm in the process of getting my place out in the Mendips nice and close to the caves! I'm going through a mortgage broker and have the mortgage offer in place. Now onto the insurance, I answered all the questions honestly and said I was into caving, diving and rock climbing (not at the same time), which they call 'extreme sports' (a term I loathe for these activities). I was originally quoted ?11 for the insurance, which seemed perfectly reasonable. Once they got into the details about my activities they've stuck on a ?17.50 premium onto the quote, specifically because of the caving, and it's a non-standard policy, so no insurance payouts will be made if the injury is sustained while caving (which makes me wonder why there's a premium if the premium doesn't account for the added 'risk' for caving).
I just cave a few times a month, exclusively in the UK. I estimated 60 trips/year. I don't cave dive or do anything 'extreme' - just do it for fun and fitness.
Have other home owners experienced this? ?28.50/month (Royal London) seems wildly excessive - it's as much as my car insurance. I tried pointing out that the most dangerous activity I do is cycling in Bristol, but that didn't work, neither did pointing out that the London Marathon has more injuries and fatalities than caving over the past couple of decades.
I note there's another thread on a similar topic, which I've read through and found useful (particularly this link https://www.financial-ombudsman.org.uk/businesses/complaints-deal/insurance/misrep-and-non-disclosure), but I'd just be interested to know about insurance specifically for acquiring a mortgage. What sort of sum of money should I expect to pay (am I getting myself worked up about my current quote)? And are there insurance providers out there that I should look at who are a bit more reasonable?
Cheers all,
Sam
Been a while since I've posted here, but I do lurk! Looking for some advice...
I'm a first-time buyer and I'm in the process of getting my place out in the Mendips nice and close to the caves! I'm going through a mortgage broker and have the mortgage offer in place. Now onto the insurance, I answered all the questions honestly and said I was into caving, diving and rock climbing (not at the same time), which they call 'extreme sports' (a term I loathe for these activities). I was originally quoted ?11 for the insurance, which seemed perfectly reasonable. Once they got into the details about my activities they've stuck on a ?17.50 premium onto the quote, specifically because of the caving, and it's a non-standard policy, so no insurance payouts will be made if the injury is sustained while caving (which makes me wonder why there's a premium if the premium doesn't account for the added 'risk' for caving).
I just cave a few times a month, exclusively in the UK. I estimated 60 trips/year. I don't cave dive or do anything 'extreme' - just do it for fun and fitness.
Have other home owners experienced this? ?28.50/month (Royal London) seems wildly excessive - it's as much as my car insurance. I tried pointing out that the most dangerous activity I do is cycling in Bristol, but that didn't work, neither did pointing out that the London Marathon has more injuries and fatalities than caving over the past couple of decades.
I note there's another thread on a similar topic, which I've read through and found useful (particularly this link https://www.financial-ombudsman.org.uk/businesses/complaints-deal/insurance/misrep-and-non-disclosure), but I'd just be interested to know about insurance specifically for acquiring a mortgage. What sort of sum of money should I expect to pay (am I getting myself worked up about my current quote)? And are there insurance providers out there that I should look at who are a bit more reasonable?
Cheers all,
Sam