Indemnity Insurance For Planning Permission Anyone Know Anything???

Chichi_2

Looking at past threads, it seems that this type of insurance is not well-knows by MSE users. Please can anyone shed light on how we can look for this insurance on web and not through sols? Thanks.

vikingaero

Planning Permission Insurance is generally only available through brokers or solicitors. Most solicitors hold an agency with some insurers and place risks through them. They themselves receive a cut of the premiums - around 10-15%.

Cost will vary depending on the "risk" and the value of the affected property at stake. Most Restrictive Covenant Indemnity Insurance premiums I've seen recently range from a couple of hundred to £600 - with some higher premiums for high worth properties and I would imagine the premiums would be similar.

The main reason why this type of policy is not widely available is that the insurer relies on the solicitor to exercise due diligence in proposal and enquiries to minimise risk. Any solicitor that doesn't do so would face a claim by the insurer on their Professional Indemnity policy if a right of abrogation exists.