Home imdemnity insurance policies

davestrachan2103

I am buying a ground floor purpose built maisonnette, and have been instructed by my solicitor that a imdenity insurance policy is required in the unlikely event that one of the neighbouring properties doesnt have a bulding insurance policy to claim on in the event of fire or flood etc...

my solicitor is trying to get the seller to pay for this, but they have refused and now my solicitor is asking me for this.

(in the lease it states; each maissonnette is responsible for insuring their part of the property)

Obviously this is surplus to buildings insurance...

can anyone advise if this is actually worth while or is someone trying to have me over?

and in the event of this would a policy pay out for repairs to the upstairs flat (i.e roof/walls) in order to protect my own (groundfloor) property.

Quentin

Assuming this is a condition imposed by the lender, then if you don't comply they won't lend you the money and you won't be able to proceed with the purchase.

Ask your solicitor where the "instruction" has come from and take it from their reply.

davestrachan2103

we'll i definately ask the question.

its not mentioned in my mortgage offer, only that the property has to be insured.

The conveyencer has said this has come from the fact that "each masionette is required to insure"...

also the quote that they posted to me is not in my name and doesnt actually say what they are insuring?

seems like a money making scheme, especially when they also charge a set up fee!