building insurance for house with subside history

daxu

Hello,

I am thinking of buying a house. The price is good but during world war II, the house subsided (by bomb or something) and the house was repaired and there was no subside problem anymore.

I found out that it is quite hard to find a building insurance for that house. One quote I got is 1000£ per year. Does someone know better deals than that?

Many Thanks
Jerry

oramgepekoe

Have you tried the company who are currently insuring the house.

ericthekidstoner

oramgepekoe wrote:

Have you tried the company who are currently insuring the house.

agreed. the current underwriters should be your best bet. so I'd ask the current owners about what they are doing

a friend of mine had this issue with his property. as long as the current owners haven't let the policy lapse, the same insurers should agree to continue it (tho it may be more expensive than a "normal" policy)

the other thing to consider is whether there is evidence/proof (e.g. from a surveyers report) that it has been underpinned and no longer subsides

daxu

Thanks both,

The problem is that the house was reprocessed by the mortgage lender and I am actually buying from them.

The lender wants me to have a building insurance but I haven't got any information from them about weather the building was insured before at all.

a surveyer's report may be a good point, I will try that.

Tim_Dodd_2

Hi daxu,

There's some sound advice in this thread.

Definitely try the surveyors report. Also speak more to the mortgage lender. I believe it is a legal requirement that when you take out a mortgage you have to take out at least building insurance (contents cover optional but sensible).

Therefore, I'd expect that the mortgage lender should have a record of who the previous insurance provider for the property was - someone with more experience in this area may be able to confirm.

Subsidence is an increasing problem so you should be able to get cover. The problem is obviously the increased premium this attracts. Don't simply go for the cheapest quote however, look at the policy wording to check for exclusions or any kind.