Insuring house that has had subsidence

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Insuring house that has had subsidence

    My property has some cracks. I am selling it, so a purchasers valuer noted these and recommended a structural report. The structural chap said, there is a drain that has probably caused this. He did not think the problem is getting worse.

    I am however worrying about the possibilty that many insurers will decline to insure it! I need some advice from people with experience of such a problem, and recommendations on how to get insurance under these conditions. There must be many insurers who are willing to provide cover.

    #2
    Originally posted by Wickerman
    Has the drain been replaced? For a drain to cause structural movement I would expect the drain to have collapsed or become cracked; eg, it may get worse over time even though it seems like it is not getting worse.

    As to insurance, you may be OK if you give the insurers the structural report - has worked for me in the past.

    Thanks for your comments. The drain has not been repaired or known to have caused blockages. I will however, get it relined (that is the quickest solution). Once that is done, it should leak no more.

    Comment


      #3
      Help at hand

      [
      Sadly most insurers will not touch this they will help without any additional fuss or costly reports
      Good luck




      QUOTE=jonblair123;27432]My property has some cracks. I am selling it, so a purchasers valuer noted these and recommended a structural report. The structural chap said, there is a drain that has probably caused this. He did not think the problem is getting worse.

      I am however worrying about the possibilty that many insurers will decline to insure it! I need some advice from people with experience of such a problem, and recommendations on how to get insurance under these conditions. There must be many insurers who are willing to provide cover.[/QUOTE]
      Last edited by Editor; 15-07-2008, 09:46 AM.
      Neil NEW direct dial 0208 8509697
      email

      Comment


        #4
        Help availiable

        Sadly most insurers will not touch this But if you ring DeliteInsurance 02083162341 they will help without any additional fuss or costly reports
        Good luck




        QUOTE=jonblair123;27432]My property has some cracks. I am selling it, so a purchasers valuer noted these and recommended a structural report. The structural chap said, there is a drain that has probably caused this. He did not think the problem is getting worse.

        I am however worrying about the possibilty that many insurers will decline to insure it! I need some advice from people with experience of such a problem, and recommendations on how to get insurance under these conditions. There must be many insurers who are willing to provide cover.[/QUOTE][/QUOTE]
        Neil NEW direct dial 0208 8509697
        email

        Comment


          #5
          ..thanks for the info..

          Thank you al for the info. My problem is solved. The insurers loss adjuster came along, accepted the claim, put in a request for works to do. He said, it should not affect the sale of the property. I can assign the benefit of the claim to the new owner, and make out a cheque for the excess. The current insurer will carry on insuring the property.

          Comment

          Latest Activity

          Collapse

          • Insurance broker relationship
            by Stacker
            If the company is the freeholder called the principal and the directors called its agents. Could an insurance broker be called an agent of the company also and would the insurance broker owe fiduciary duties to the company?
            07-07-2020, 19:02 PM
          • Reply to Insurance premiums going through the roof
            by Section20z
            desamax,

            More likely there was a big claim and the renewal went up so the only way to get reasonable cover was to accept a high excess.
            You can ask for claims history but I doubt they would tell you it had been declined, they don't normally decline renewals,. Just put price up so...
            06-07-2020, 12:55 PM
          • Insurance premiums going through the roof
            by flyingfreehold
            Those seeking renewals of buildings policies will find that insurers are taking a much tougher line especially where there have been chunky losses and premia are rising dramatically

            A broker put it to me this way. In 2020 insurers have made negative income on its investments therefore...
            17-05-2020, 10:41 AM
          • Reply to Insurance premiums going through the roof
            by flyingfreehold
            I think the present insurers are perfectly reputable. I cant see that there is a way of ascertaining that the previous insurer declined. Companies are fickle and they do from time to time exit specific types of cover....
            06-07-2020, 08:53 AM
          • Reply to Insurance premiums going through the roof
            by desamax
            Our excess have been increased, the 'escape of water' one is now 5K from £250 all others have doubled. This is a mixed use property all sold off on long leases. we have a feeling our landlord has had the insurance declined by the long standing insurer and we now have some unknown underwriter, the policy...
            04-07-2020, 12:47 PM
          • Leasehold Second Home insurance
            by Rincewind
            Hi All

            I have a leasehold holiday home (flat).

            The lease states: . . . "the lessor will at all times during said term (unless such insurance shall be vitiated by any act or default of the Lessee) insure and keep insured the building including all common areas and common...
            27-06-2020, 09:18 AM
          • Reply to Leasehold Second Home insurance
            by Rincewind
            yes but . . . the lease says

            "The lessor will at all times during said term (unless such insurance shall be vitiated by any act or default of the Lessee) insure and keep insured the building including all common areas and common services against fire and such other risks (if any) as...
            29-06-2020, 17:06 PM
          • Building Insurance
            by hexu
            The dispute has happened since the change of freehold.

            I was told by my conveyancing solicitor that building insurance is arranged by the Landlord for the common parts only and I must insure the flat myself. My lender also informed building insurance I must take out to hold as a condition...
            30-05-2020, 16:10 PM
          • Reply to Building Insurance
            by hexu
            Hi ATC, I seem to misunderstand your point previously. My solicitor has written to the freeholder, but he does not accept our position. His reply is shown as below:

            "Insurance companies are unable to cover the structure of the building and common parts of the building without taking...
            27-06-2020, 19:00 PM
          • Reply to Leasehold Second Home insurance
            by Section20z
            I think your best bet is to notify the insurers directly that it is occasionally vacant for longer periods . (As long as your lease has no clause against it) otherwise you may be liable as you say.
            Failing that make sure it's occupied at least once a month.
            You can use C19 as a valid excuse...
            27-06-2020, 12:01 PM
          Working...
          X