Always check insurance details when it comes up for renewal. We would be seriously out of pocket if we didn't.
We are fortunate to own a house that we rent out. It's by a river, in fact near a marina. Lovely location. There is no record of the area of ever being flooded. The insurance went up by £800 pounds this year! Added to that, they wouldn't be held liable to the first £10,000 of any flood damage. Get the feeling they don't want our business?!! DH rang to check that there wasn't any mistake. They said they are reassessing all properties close to water due to global warming. So DH rang other companies we deal with. The first one wouldn't give a quote. The second provided insurance at a lower premium than we paid last year, same cover. So ok for this coming year, but next year? Is this way things are going? How have other people living near water fared? Tempting to sell up now, but we feel a responsibility towards our tenants who have been there for years and love it. But if insurance goes up like this, we would have no choice, but to put the rent up by a substantial amount.