A Guide to Non-standard risk
Confused.com have launched their new non-standard risk offering to customers and this is a guide to exactly what it is and whether you might, without
realising it, be in need of the extra cover.
To put it simply, a non-standard risk is one which is not covered by the average home insurance policy. For example, if your home has ever shown
signs of subsidence, or if you have previously been declared bankrupt, that would go beyond the cover of a standard home insurance policy. If you or
your property is affected by a non-standard risk you would need to obtain a policy from a non-standard home insurance provider.
Equally, if your home has been affected by an extraordinary event such as flooding in the past, this is also considered a non-standard risk and, as
such, will make it ineligible for a standard home insurance policy.
Non-standard risk can cover a broad array of factors, so don't think that you'll necessarily be covered by a standard policy just because you live a long
way from the sea or have an unblemished criminal record.
What counts as a non-standard risk?
Just to clear things up, here is a comprehensive list of typical circumstances which insurers would count as non-standard risks:
* Properties with a history of flooding - this has been particularly troublesome with the extreme weather conditions of the last few years. People in
certain high-risk areas such as Cockermouth have found the cost of premiums soaring since 2009's severe floods. (Click here for advice on how to
reduce the damage before and after a flood hits.)
* Homes that have ever shown sign of or been monitored for subsidence, landslip or heave - some insurance firms cover subsidence under normal
building insurance - check when searching for policies. (For tips on how to spot subsidence click here.)
* Properties that have been previously underpinned or had their foundations reinforced - it can be particularly tough to get cover for homes that have
been previously underpinned, but there are specialist p