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subsidance
smudger1946
Posts: 645 Forumite
Mate bought a home in the last few months and has found slight settlement in 70's property, is there an insurance company who will take this on? at the moment got insurance transferred from previous home.
Thanks for looking.
Smudger
Thanks for looking.
Smudger
0
Comments
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Best to just stick with existing insurer & make no mention of any
settling unless it actually needs remedial work.
Any property that has had any subsidence or similar problems in the past are generally more difficult & costly to insure. What normally happens with a property having had any remedial work done on an insurance claim, is that the insurance co stick to a code of practice where they will continue to offer insurance on the property even if the property is sold. It just means that whoever buys the property is much wiser to just continue with cover from that particular company.The bigger the bargain, the better I feel.
I should mention that there's only one of me, don't confuse me with others of the same name.0 -
Settlement is NOT subsidence. Settlement is very normal and does not mean there has been any issue with this property.The comments I post are personal opinion. Always refer to official information sources before relying on internet forums. If you have a problem with any organisation, enter into their official complaints process at the earliest opportunity, as sometimes complaints have to be started within a certain time frame.0
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smudger1946 wrote: »Mate bought a home in the last few months and has found slight settlement in 70's property,
Who has found settlement? Your mate or a professional surveyor?
Is your mate saying that movement has occurred in the last few months since he bought the property?
Unless your mate really knows what he's talking about, it might be unwise for him to make vague comments about building settlement to insurance companies.0 -
Thank you all, I will pass info on.
Happy Christmas0
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