How Easy is it to obtain insurance on a house with previous subsidence

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  • How Easy is it to obtain insurance on a house with previous subsidence

    Hi,

    I want to know how easy/hard it is to obtain insurance on a house which was underpinned 5 years ago, the guarantee is still in place.

    When I searched online, it turns out that the normal moneysupermarket wouldbn't be any good, I know insurance will be a bit more, but how much more ?

    Also they are asking for details of claims, I have never made claims on the insurance before, it was the previous owner, I dont know how much the cost of the claim is etc, do I have to keep declaring info that I know nothing about ?

    Thanks in advance.

  • #2
    I'd say that it shouldn't be a huge issue, as it's surely better than getting insurance on one that is next door to a house that has subsided :-).

    That's the "what's worse than a worm in your apple - half a worm in your apple" factor.

    But it will only be a proportion of insurance companies, and I am wrong with great regularity.

    ML
    Refer Mad Regulators to Arkell vs Pressdram.

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    • #3
      First up, trying to get a quote online is probably wasting your time. Most online quote engines have it built in that as soon as it catches the merest whiff of the word subsidence it doesn't quote.

      Why not use the LandlordZONE Insurance Directory and ring a few of the helpful brokers you find there.

      It sounds as though you may be getting two sections of the insurance proposal slightly confused. An insurer will normally ask your personal history which includes claims. Your answer to this is "No" as you have not personally made any claims. There should be a separate section asking about the property and it's history. To this you would need to answer that there has been a subsidence history and simply provide all the information you can.

      When speaking to insurers, you may need to provide an up to date building survey and/or details of the subsidence work/guarantee. There's no saying what outcome there will be as each insurer will treat it on an individual basis but there shouldn't be any major issues in getting cover.

      Good luck
      Steve Smith - Company Director at a leading Landlord Insurance broker with 17+ years experience in the industry
      LandlordZONE Verified Poster and Topic Expert for Landlords Insurance since 2009
      See my profile for contact details

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