property indemnity insurance

downs523

hi, my solictors have quotes me £78 for indemnity insurance as the property im buying has searches that may run out before we complete. where can i get this cheaper? i have looked online but there just for businesses??

does anyone know where i can get it cheaper?

property value is 140k

Ilian2008

Hello, the Title indemnity Insurers often have different but prettys imilar prices. There are First Title, Guaranteed Conveyancing Solutions, Norwich Union Title INdemnity Insurance, i think a firm called STL do indemnity insurance as well.

I think it needs to be signed off by your conveyancer though. Probably best just to ask him to get three quotes.

downs523

i cant seem to find it on norwich union site? can i do an online quote?

Richard_Webster

The legal indemnity insurers don't tend to open their sites to non-conveyancers because the issues involved are so technical that unfortunately the average lay person might get confused and waste their time with lots of questions and e-mails because they might not understand the technicalities involved.

There are a number of companies out there:
Countrywide Legal Indemnities
Guaranteed Conveyancing Solutions
Norwich Union
Legal & Contingency
Isis Legal Indemnities

Get your solicitor to find out which is cheapest. A lot of solicitors do charge for the extra work of arranging such policies. I don't do this, but I'm afraid if t is a choice between a policy that costs say £40 and is administratively simple for me to arrange and another that costs £30 but involves more hassle in terms of completing on line forms or obtainining faxed quotes, then I will go for the slightly more expensive one. If the difference was between say £100 and £200 I would take a little more ttrouble in getting the cheaper one. I don't think that is unreasonable.

downs523

countrywide are my solicitors and they quoted me £78 from norwich union? wonder why they didnt use theirs... is £78 expensive?