Insurance for property - slight movement

poppysocks1 · 10 March 2009 at 9:33PM

Survey back today for house we are buying. Small section saying that there has been some movement of the structure but not recent and it is due to property being on a sloping site. Surveyor not too concerned and no indication it is an ongoing problem but it is mentioned so I assume I do need to declare this when taking out buildings insurance and I have tried to get a couple of quotes this evening. One company I called has refused to insure the property and another company needs to know when it happened before they can make a decision but I dont know exact dates.

Does anyone have any experience of this? I feel rather stressed right now as if we cant get insurance then we cannot proceed. Any advice welcome.

dacouch · 10 March 2009 at 10:33PM

You will struggle to find a "New" Insurer to take the property on and if you do you will probably have problems if you ever put a claim in for subsidence.

What you need to do is find out who the current Insurer is and arrange cover with them, make sure it is fully cross referenced that the old owner had cover and it is best to send a copy of the survey to them.

They should offer you cover without any restrictions and then should you ever want to sell the house you can pass the Insurance on to the new owner.

If you ever need to make a claim for subsidence you should have no problems putting it in (The Insurer would have had to pay it of the old owner had stayed with them and kept renewing).

agaveworm · 14 March 2009 at 1:19AM

Put this to an Insurer on a Friday afternoon - then you are in the !!!!!!

Give them plenty of time to consider, then you shouldn't have any probs.....

cogito · 14 March 2009 at 9:28AM

Older properties frequently have experienced some settlement so this is nothing unusual. What insurers are interested in is whether the property has ever suffered subsidence. These are two very different things.

You have to declare the latter but not the former.

Insurance for property - slight movement

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