Cant get Buildings Insuarance

thegambler_2

I am buying a house that had tree subsidence some 12 years ago. The house got underpinned and I had a survey done and it shows that there has been no movement on the property since then. Problem is no one will insure me because (i) the subsidence (ii) the sale is a cash buy. I tried to get insured by the same company that the present occupants use via their mortgage and they say that they won't insure me & they wont give me a reason. They would have if I had a mortgage from them. I am not sure if they are legally allowed to do so either as they have been insuring it for the past few years with no problems.

I am not really sure if i really need buildings insurance but one can never be too sure with things like fire which is the only reason why i would need the insurance.

Any help suggestions would be appreciated.

woodys_wonders

Unfortunately they do not have to offer you insurance.

There are companies out there that will offer you cover but the likelyhood is they will exclude subsidence.

If you google insurance for buildings with subsidence you will get some specialist companies up.

A couple of companies I know of are Subsidence Claims Advisory Bureau & Towergate but you may need to go through a broker for these.

sjg1950

Hi

We had problems with subsidence due to trees 20 yrs ago. The whole house was underpinned.Since then we have paid massive amounts for insurance. Today i phoned SAGA. Their Quote was less than half, no mention of surveys, regarded subsidence as historic. Telephone number 0800 0150 1863
Good luck

Helga14

It's a condition of mortage lenders to have buildings insurance but i guess you don't have to have it if you are buying cash. For the piece of mind i'd want it.