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property insurance

Old Oct 20th 2023, 1:55 pm
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Default property insurance

It has been alleged that when faced with a significant claim, PT insurance companies routinely refuse to pay out for house destruction.

So my question is;
Have any of you made a significant claim, if so was it paid, and what company was that?
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Old Oct 20th 2023, 3:31 pm
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Default Re: property insurance

I’m interested in replies to this.
We had quite a palaver making the most routine claim for water ingress that was so clearly the absolute fault of upstairs resident. That only amounted to a couple of thousand Euros at most and insurers were cagey slow and reluctant - took a total of 8 months to recognise liability etc.
So i’m truly curious to know what happens if there’s a real problem - like major subsidence - or anything even worse, unlikely as that may be .
Edit: would esp like to hear trading name(s) of any insurers that have acted well in a major situation.

Last edited by BBmatic; Oct 20th 2023 at 3:35 pm.
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Old Oct 20th 2023, 6:34 pm
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Default Re: property insurance

I too, would be interested in hearing about any good or bad experiences regarding house insurance prior to taking the plunge.
Wildfires are one thing but there really is nothing to be done when it comes to earthquakes !
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Old Oct 21st 2023, 12:04 pm
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Default Re: property insurance

Yup - keeping an eye on this thread.
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Old Oct 22nd 2023, 12:09 pm
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Default Re: property insurance

My property insurance is done through my bank. I asked if I could include my camera gear on it but my bank manager told me to save my money. He said that if I make a claim in the future the insurance company will simply dig something out of page 77 of the policy in 3 point font that gets them out of paying a penny. He said this is commonplace in Portugal
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Old Oct 22nd 2023, 11:08 pm
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Default Re: property insurance

I did make a claim for a computer that got fried by a power surge; EDP refused to pay, they said it's imposable for a power surge to damage a computer.
Right...
So I claimed it on my home owner insurance policy, and they did pay after some due diligence.

But that was a small claim; what I'm worried about is whether they'll pay after a big earthquake causes widespread damage (and claims).
The big fires recently must have caused quite a few claims that we could learn from.
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Old Oct 22nd 2023, 11:45 pm
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Default Re: property insurance

Originally Posted by sportpix
My property insurance is done through my bank. I asked if I could include my camera gear on it but my bank manager told me to save my money. He said that if I make a claim in the future the insurance company will simply dig something out of page 77 of the policy in 3 point font that gets them out of paying a penny. He said this is commonplace in Portugal
So did you cancel the Policy ?
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Old Oct 23rd 2023, 3:29 pm
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Default Re: property insurance

Originally Posted by Dafty
So did you cancel the Policy ?
why would I do that? As I understand it I am required by law to insure my property.
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Old Oct 23rd 2023, 5:11 pm
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Default Re: property insurance

Originally Posted by sportpix
why would I do that? As I understand it I am required by law to insure my property.
Yes, you do need fire cover if you are in a multi occupancy property (apartment block).
However, after hearing the attitude of your bank, with regard to any future claims, I think I would be taking my insurance business elsewhere !
(If you are in a condo, Insurance cover for the building is generally included in annual fees)

Last edited by Dafty; Oct 23rd 2023 at 5:16 pm. Reason: added info
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Old Oct 24th 2023, 5:09 am
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Default Re: property insurance

He might have the same issues we do. We have a small mortgage and part of the terms of that mortgage is that the insurance is done through the bank.
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Old Oct 24th 2023, 7:30 am
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Default Re: property insurance

We have only claimed once and it was paid, no quibble and in the bank within a week.

We were quite surprised, as it really was an act of god, a storm of hailstones, torrential rain blocked the drain which ran under the house. So the water had to go somewhere and found it's way under the garage door, back door and then into the house.

Came downstairs to find everything floating and ankle deep in water.

Called the insurance company and he was just going from house to house, paying out quite happily.
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Old Oct 24th 2023, 10:35 am
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Default Re: property insurance

That sounds like a good company; who are they (if you don't mind telling)?
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Old Oct 24th 2023, 11:16 am
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Default Re: property insurance

It was Victoria.

But when we had a break-in, it was apparently, our fault, for not having net curtains on the windows and the shutter open, as the thieves could see what we had.

So swings and roundabouts.
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Old Oct 24th 2023, 11:20 am
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Default Re: property insurance

That's ridiculous!
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Old Oct 24th 2023, 12:07 pm
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Default Re: property insurance

Originally Posted by Shanorme
He might have the same issues we do. We have a small mortgage and part of the terms of that mortgage is that the insurance is done through the bank.
No, I don't have a mortgage on the apartment but as previously stated I was advised I needed to have it insured for fire. I have no problem with this and as also previously stated I wanted to add my extremely expensive camera gear to the policy but was told by the bank it would be hard to get anything back in the event of a claim. I have no problem with my bank as insurance is someone else's product which they sell. And I didn't only ask my bank about this but I asked Abbeygate, who my car is insured through. They said the exact same thing - save your money as it will be near impossible to make a claim. I would rather be told the cold hard truth rather be whitewashed by some sharp tongued salesperson that I really should take out the additional cover who knows full well it would be very hard to get anything in the event of a claim.
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