urgent help needed!!! exchanged contract - can't get building insurance!!!

johnnyredgate

The surveyor may be able to advise you on appropriate insurance. I am sure that there will also be insurers who specialise in insuring older/historic houses where there will always be settlement, a google search should find you specialist companies. As others have said you need this property insured now, should be insured at exchange date.

Takeaway_Addict

reading this thread the OP has been told several times to ask the vendors and to this point hasn't.

The answer maybe they haven't disclosed it but for crying out loud close the avenue at least and ask them!

gemma.zhang

We have, waiting for answers now.

josievg

gemma.zhang wrote: »

Josiveg, any news from your side. Sorry to get you into this. I blamed my husband, he was the one noticing it.. I wouldn't even read that much detail!

Waiting! Broker has come back a couple of times today and asked more questions so hopefully an answer tomorrow. Nothing from Home Protect today re the survey I sent. Will see what broker says before I chase them.

Just seen that you are waiting for answers too. Good luck.

josievg

A final update to this.

I have managed to renew my insurance with my current insurers - after a very stressful week and several long conversations with them. I very nearly lost my insurance due to non-disclosure so, although I'm sure everyone knows this already, read everything very very carefully because the consequences of not doing so can be very bad indeed.

I am also aware that gemma.zhang has resolved her insurance problem too so happy endings all round.

Thanks to all who contributed to this thread.

Thunderbird_2

Hi Gemma

If you go with your vendor's insurance, you could assume nothing has changed since they taken the insurance last year. Or I should say, the insurance company will assume the house is still the same from last year when the vendor insured the house or renewed the policy.


Failing this, try to get an insurer (Home Protect?) with subsidence excluded from the cover, but everything else covered (fire, flood etc). Or offer to pay £5000 excess on subsidence only, but 500 on everything else or however it works, IYSWIM.

One of these three options should work. Good luck.

dacouch

Thunderbird wrote: »

Hi Gemma

If you go with your vendor's insurance, you could assume nothing has changed since they taken the insurance last year. Or I should say, the insurance company will assume the house is still the same from last year when the vendor insured the house or renewed the policy.


Failing this, try to get an insurer (Home Protect?) with subsidence excluded from the cover, but everything else covered (fire, flood etc). Or offer to pay £5000 excess on subsidence only, but 500 on everything else or however it works, IYSWIM.

One of these three options should work. Good luck.

Mortgages are generally subject to the Subsidence excess being no more than £1000 and you must have subsidence cover

gemma.zhang

Hi everyone,

Thanks so much for helping out!
I have got the owners insurance detail, however didn't use them as they r insured with High street insurance company who wouldn't cover the long standing structure movement.

After making numerous phone calls, insured with Directline, they cover the 'long standing' 'non progressive' issue, same premium as other companies. Very very glad it's happy ending for everyone! :beer:

Lesson learned:
Get insurance sorted b4 exchange
Read careful careful!
Different ppl on the customer services seem to tell u different things, call a few times!

Thx everyone who chipped in:A
Josievg-sorry for raising your blood pressure last week