Insurance for house not in good state of repair

caroline233

Hi. My house is an old welsh longhouse. The back wall is set into a hill and is underground and is quite damp. It needs a new roof and could do with a new damp proof course.

There are several things I'm pondering:

Is it worth getting buildings cover, given that I guess it will be so expensive and I am really struggling for money at the moment? Would I be better off just putting the money into a saving account just in case?

Does it count as not being in a good state of repair?

Which companies are likely to want to quote?

Thanks in advance. Happy New Year.

jonesMUFCforever

What if the house burns down?
What if the house is flooded?
What if it is engulfed from slippage from the hill?

You say that insurance is expensive - sorting any of the above will cost you many many thousands - do you have the cash in hand? Putting a few quid away every month 'just in case' will never ever cover a major claim (unfortunately or we would do it)

I think you know the answer.

Yorkie1

If you have a mortgage on it then your lender will require you to have buildings contents

hcb42

can you live in it? If it is habitable, then I wouldnt say it was in a poor state of repair. Damp proof courses are not that expensive, many houses need some kind of maintenance work (including my roof lol)


Dont skip on insurance, but make sure you address the problems asap

l0u1se

As long as you are completely honest then you should be able to get a quote, I can't see how the house repair state would increase the premiums by that much, surely it isn't a huge risk? Insurance companies tend to look for bigger factors such as a non standard build / flood areas etc

Itismehonest

There are lots of longhouses built into hills & they are all in varying states of repair.
Most of them have no damp-proof course as they have stone walls & pre-date damp-course discovery. The usual method now is to get the floors tanked (& the wall on the ground side).

Buildings insurance covers you for rebuilding in the event of calamity. That cost is the same whether the house is currently in good repair or not. It's wise to have it. If money is tight you certainly won't have enough to rebuild the place.
Where the dampness may have a downside insurance-wise would be on your contents insurance but not on the building.

caroline233

Thanks all. I know I have to sort it out but am still insuring my former matrimonial home next door - long story! I'll see if I can get some quotes & get it done.