House Insurance

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WilfySwarez
Posts: 12
Joined: Sun Aug 24, 2014 7:11 am
Location: kolimbari

House Insurance

Postby WilfySwarez » Thu Jan 12, 2017 11:38 am

We currently insure our house here with Intarsure, an UK company, we do this because they offer earthquake cover and Greek insurances will not because our house is too old to qualify.
A lot of UK based insurance firms give earthquake cover but only if the house is for holiday purposes and not full time living, very strange to me, but that is why we use Intarsure.
This years renewal costs have risen sharply, so any advise or other companies you may know of will be greatly received as the renewal is due shortly.
Thank you in advance.

STEVE.W
Posts: 155
Joined: Sun Jan 06, 2008 2:39 pm

Re: House Insurance

Postby STEVE.W » Fri Jan 13, 2017 9:59 am

We used to insure with Intasure and they did the same trick with us, raising premiums and an admin fee after the first year, when questioned what the admin fee was for, they couldn't give an explanation which just confirmed my suspicion that it was just profiteering. They reduced the premium slightly after arguing with them but not enough to justify the increase in premium. I let it lapse by about 1 week, went back and was then classed as a new customer and the premium was the same as the previous year saving not far off £100. You could insure it in a single name as a new customer and that should be cheaper. You can get earthquake cover with insurers here, you can insure anything at a price as long as you have an insurable interest. We only insured with Intasure because they provided public liability cover as we used to rent out our villa but don't now, when I enquired at a Greek broker about this, "what is this" was the reply! You can get this now. When you are over here, contact Dimitrios Skitzis, an excellent broker with excellent English and policies translated into English on 6945813229 or 2821023485, he is based in Chania and will visit you at your house to run through all of your requirements. Steve
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WilfySwarez
Posts: 12
Joined: Sun Aug 24, 2014 7:11 am
Location: kolimbari

Re: House Insurance

Postby WilfySwarez » Fri Jan 13, 2017 3:45 pm

Thanks very much for your reply.
We contacted Intersure and they have kept the premium the same as last year, strange how they can do that ?
As far as I know and am pretty certain it is fact, no Greek insurance company will insure for earthquake if the house was built pre "1945", a few years ago I went as far as taking our deeds to the insurance company ,they checked the dates and declined to give cover. So will probably stick with the devil we know, but still have a couple of weeks to check around.
Thanks again for your reply with a good trick to know.

Mackie
Posts: 68
Joined: Sat Jul 23, 2016 1:08 pm
Location: Cheshire / Hersonissos

Re: House Insurance

Postby Mackie » Fri Jan 13, 2017 6:25 pm

I spoke to this company recently and their earthquake cover has an excess of £5k!
Cheers
Mackie

Kilkis
Posts: 8428
Joined: Sat Apr 21, 2007 3:58 pm
Location: Near Chania

Re: House Insurance

Postby Kilkis » Fri Jan 13, 2017 11:54 pm

Mackie wrote:I spoke to this company recently and their earthquake cover has an excess of £5k!
Cheers
Mackie


Which company?

Warwick

Mackie
Posts: 68
Joined: Sat Jul 23, 2016 1:08 pm
Location: Cheshire / Hersonissos

Re: House Insurance

Postby Mackie » Fri Jan 13, 2017 11:59 pm

Intasure :cheers:

Eleni13
Posts: 450
Joined: Tue Apr 10, 2007 11:13 am
Location: UK

re:House insurance

Postby Eleni13 » Sat Jan 14, 2017 11:34 am

Try InterAmerican, Chania. Leandros Simeonides is our contact. They do earthquake cover, speak good English, and will give you a copy of the cover details in English.
They are near the Cross Market.

Kilkis
Posts: 8428
Joined: Sat Apr 21, 2007 3:58 pm
Location: Near Chania

Re: House Insurance

Postby Kilkis » Sat Jan 14, 2017 2:53 pm

I think people are missing the point here. Every Greek insurance company does earthquake cover. WilfySwarez is saying that they won't do it for old houses that were not built to modern earthquake standards, e.g. pre-1945. Whether he is correct or not I have no idea but it is only worth recommending a company if you know they will do it for pre-1945 houses. For example, I know ATE do earthquake cover but I have no idea if they have an age restriction or, if they do, what it is because my house was built in 2005.

Warwick

YoMo2
Posts: 846
Joined: Sat Mar 16, 2013 11:07 am
Location: Milatos, Lasithi

Re: House Insurance

Postby YoMo2 » Sun Jan 15, 2017 9:11 am

Mackie wrote:I spoke to this company recently and their earthquake cover has an excess of £5k!


I think most cover for earthquakes has a high excess so the company is "protected" against thousands of small claims for cracked render after every earthquake. If your house is demolished by a quake you won't mind paying 5k to get a new house.

Andrew
"It's all in the implementation"

Kilkis
Posts: 8428
Joined: Sat Apr 21, 2007 3:58 pm
Location: Near Chania

Re: House Insurance

Postby Kilkis » Sun Jan 15, 2017 9:32 am

Completely agree, Andrew.

Warwick

Mixos
Posts: 330
Joined: Mon Aug 13, 2012 8:26 am
Location: North East Crete or S.W.England

Re: House Insurance

Postby Mixos » Sun Jan 15, 2017 10:15 am

We have just taken out a policy with Intasure after years being insured with Lark, another UK based company (actually a brokers, who you would expect always to find the best deal.) After years of steadily rising premiums with Lark I decided to shop around and Intasure came back with a premium one third of the price Lark wanted .. and better third party cover. As with all insurance companies, you don't now how good they are until you need them, so the jury remains out on that. But I fully expect Intasure's premiums to go up too. The fall in the value of the £ probably has a lot to do with it. As for the earthquake excess, Andrew and Warwick are right. If your house ends up as a pile of stones, £5k seems a relatively small price to pay for a new one. Nobody forced us to live in an earthquake zone!

Kathleen
Posts: 383
Joined: Sat May 12, 2007 8:46 pm
Location: North East UK/Rethymnon

Re: House Insurance

Postby Kathleen » Sun Jan 15, 2017 4:04 pm

Having been with Intasure for over eight years I finally got fed up with having to haggle over the price for renewals each year and switched to my local branch of Interamerican in Rethymnon. The premium was substantially lower for the same cover so I am happy.

A point mentioned by them at the time, was that generally when a claim was made with Intasure they then contacted Interamerican to find out the location of the property concerned so they could deal with it!

Kathleen

sandrasmith
Posts: 44
Joined: Thu Aug 21, 2008 3:11 am
Location: Neo Chorio

Re: House Insurance

Postby sandrasmith » Mon Jan 16, 2017 11:13 pm

ATE do have an age limit re earthquakes.We have our house insured with them.Part of it is VERY old and new part is about 20 years so we couldn't have it.Sandra.
Would like to help people on Crete

Stavros
Posts: 84
Joined: Tue Nov 06, 2012 9:46 am
Location: Crete
Contact:

Re: House Insurance

Postby Stavros » Tue Jan 17, 2017 8:28 am

Kilkis wrote:I think people are missing the point here. Every Greek insurance company does earthquake cover. WilfySwarez is saying that they won't do it for old houses that were not built to modern earthquake standards, e.g. pre-1945. Whether he is correct or not I have no idea but it is only worth recommending a company if you know they will do it for pre-1945 houses. For example, I know ATE do earthquake cover but I have no idea if they have an age restriction or, if they do, what it is because my house was built in 2005.

Warwick


Warwick is right!

All insurers offer earthquake cover (which is the most expensive cover in Greece and in some cases doubles the premium...). The companies I represent set a limit to the properties they accept - They must be built after 1960. This is the year that the first earthquake regulation was imposed in Greece. If it was actually implemented, this is a different story...That said, if a property is pre-1960's and a civil engineer can verify the static competence of the building (in writing) then the earthquake cover is most probably offered.

FYI most buildings, especially in Athens were built in the 1990's when the old regulation was in effect. Athens was then included in Earthquake Zone 1 (low danger) and has since moved up to Zone 3....

WilfySwarez
Posts: 12
Joined: Sun Aug 24, 2014 7:11 am
Location: kolimbari

Re: House Insurance

Postby WilfySwarez » Mon Jan 23, 2017 4:00 pm

Thanks to all who took the time to reply.

Update.....For peace of mind we have reluctantly decided to stay with Intasure because they do offer earth quake cover.
All the Greek insurance companies will only offer cover on houses built after 1960 ,so is no good to us.
We did however receive a reduction of 20 pounds from Intasure because of our procrastination
Cheers and all keep warm.


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