Insuring a property that has had subsidence issues/history can be very difficult given that your more “mainstream” provides will not cover them. Its normal for property owners or potential property owners to feel it’s almost impossible to get the property insured having exhausting all the usual means of obtaining a quotation; however you need to deal with a specialist for properties of this ilk.
At Goldcrest we have access to a wide range of insurers ready to provide quotations for properties with subsidence history at very competitive rates.
When contacting us for a quotation, it’s key to have the following information to hand:
- As much information regarding the subsidence as possible, including date of the initial claim or movement and the amount the insurance company paid out in respect of the claim.
- Details on the opposing tree or drainage – precautions/actions taken to ensure no future movement.
- Date of any underpinning.
- Certificate of structural adequacy from the loss adjusters that dealt with the subsidence claim. This should be pretty easy to obtain; if you contact your current/previous insurers. If you’re purchasing a property and cannot contact the previous insurers, see the next bullet point.
- An up to date structural engineers report – having this report is key in obtaining a quotation, you would find it almost impossible in obtaining an insurance quotation without this. This provides any proposing insurer to have full details on the property in question, and advises any defects the property may have due to any subsidence retailed history. It is recommended that any proposing buyer has this before completing the purchase.
We will of course require the normal information as well as the aforementioned, such as building sum insured, property type etc.
Whether the quotation is for your main residence or a let property we are more than capable of providing you with an insurance premium, however you may feel that you don’t necessarily require cover for subsidence within your buildings insurance, but yet the property has had subsidence issues in the past, but you may feel the problem has been rectified – that being the case we can provide an annual premium for your buildings insurance without the above-mentioned documentation.
So for your subsidence insurance needs, contact our property team today.
