Do Home insurance Insure you, after subsidence has been fixed ?

Galeeno

What would happen in this scenario from a 'new home insurer' point of view ?

A house purchased, which needs work to be done, structural work (it has subsidence) - huge cracks, and trees nearby. - and needs the bathroom and toilet.

Step 1) A house is purchased, a renovation project, needs work on (no home insurance purchased yet)

Step 2) A private structural engineer comes, inspects the cracks and tells what needs to be done to fix them - by giving us a structural report (underpinning is NOT required)

Step 3) The work is done (Privately by a private company) cracks are fixed, not cheap though lol. - the subsidence is fixed. - who give a report - following step........and the trees have been removed/chopped down,.

Step 4) a New structural report is done (Structural engineer) and he says it is all fine, been done up, the house is Fixed from the previous subsidence.

Step 5) Along side this- the house is done up, renovated (painted, bathroom, shower etc), the subsidence/ Huge cracks are fixed as of step 3-4)

Step 5)
The house is ready to move into,

Step 6) Home insurance is required
They ask on their questionnaires, 'has the house suffered from cracks/subsidence.....this is a yes! but it has been fixed.

So Are home insurance companies more likely to insure the house, (that previously had home insurance but has been fixed, even if we tell them this and SHOW THEM the new structural report which gives them the all clear, that the problem have been fixed?


Companies such as Santander, llyds tsb, natwest.

rs65

I would say that most insurers are less likely to insure a house that has a history of subsidence.

dacouch

You'll need someone like this.

Good luck, it won't be cheap

http://www.bureauinsure.co.uk/

Galeeno

dacouch wrote: »

You'll need someone like this.

Good luck, it won't be cheap

http://www.bureauinsure.co.uk/

Thanks. any other companies/ avenues that we can explore?



Please confirm this quote guys- for our piece of mind...

So in other words, there IS HOPE for us to get insured, with subsidence history?

- in other words, there ARE insurers who will insure a house with subsidence history, you just have to find them - and it might be that the excess we have to pay is higher, (as we are at bigger risk) - but their is hope?

yea ?

dacouch

Galeeno wrote: »

Thanks. any other companies/ avenues that we can explore?



Please confirm this quote guys- for our piece of mind...

So in other words, there IS HOPE for us to get insured, with subsidence history?

- in other words, there ARE insurers who will insure a house with subsidence history, you just have to find them - and it might be that the excess we have to pay is higher, (as we are at bigger risk) - but their is hope?

yea ?

It's more likely you will pay a considerably higher premium, they may also require an increased excess.

They will generally want you to pay for a structural survey to enable them to assess the premium and terms. Depending on the survey they may also require you to commission a cctv drain survey (At your cost) and / or may also want a report on any trees by an arboriculturalist.

Bear in mind many mortgage companies will not offer a mortgage is higher than £1000 which it may well be.

dacouch

You have the following threads on this topic, it's easier if you just have one.

https://forums.moneysavingexpert.com/discussion/comment/59090283#Comment_59090283

https://forums.moneysavingexpert.com/discussion/comment/59567547#Comment_59567547

Galeeno

dacouch wrote: »

It's more likely you will pay a considerably higher premium, they may also require an increased excess.

They will generally want you to pay for a structural survey to enable them to assess the premium and terms. Depending on the survey they may also require you to commission a cctv drain survey (At your cost) and / or may also want a report on any trees by an arboriculturalist.

Bear in mind many mortgage companies will not offer a mortgage is higher than £1000 which it may well be.

Yep, after paying for a report, and a higher premium, and probabaly the subsidence ourselves

..... but there Is hope for an insurance company to insure us, yes?

(sorry for posts)

dacouch

Assuming they're happy with the way the subsidence has been treated and the risk of further subsidence is low.

Try ringing the company I provided, they're very helpful and can talk you through the process. They will not charge you for advice, they will make money if you take out cover with them.

Galeeno

dacouch wrote: »

Assuming they're happy with the way the subsidence has been treated and the risk of further subsidence is low.

Try ringing the company I provided, they're very helpful and can talk you through the process. They will not charge you for advice, they will make money if you take out cover with them.

Cheers.

Did you have this similar situation, and you used that company that you have provided ?

dacouch

Galeeno wrote: »

Cheers.

Did you have this similar situation, and you used that company that you have provided ?

I'm a broker an place the subsidence business through them that for whatever reason the existing insurer won't cover.

They're very helpful and can explain the upfront costs to you eg the survey, how long it takes etc etc.

They used to publish a helpful guide about trees and subsidence, ask them for a copy.