Buildings Insurance - Catch 22

Lou-lou123

Hi,

Really need some advice. My job is taking me overseas for 18 months and I'm planning on renting my property during that time. My current buildings insurance does not cover me for renting - neither is the policy valid if I leave the house empty for 30 days or more. I am happy to go to a different insurer, however, I have an outstanding claim with my current insurers for possible subsidence (it's being investigated at the moment).

If I change my buildings insurance to a company which covers rented properties, does my current insurer still have an obligation to see through the existing claim, even though I will effectively be breaking the terms of the policy by renting out the property?

My tenants move in in two weeks so I need to get this sorted soon! Thanks for your help.

huckster

I doubt other companes will quote if there is a possible subsidence claim ongoing. They might provide a quote, excluding subsidence, but if you have a mortgage, you will be breaking the terms of your mortgage for not having Insurance, that includes subsidence cover.

You may be stuck with the current company. See if the current Insurers offer a landlords policy and see if you can move to that option.

Are the tenants and any letting agency aware of a possible subsidence claim ? You won't be very popular with them, if it is subsidence and they have to move out, while works are carried out. Or they have to arrange for inspections by loss adjusters, if the property is just monitored for any movement over a period of time.