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Home Insurance for house by a riverbank

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We are in the process of buying a home about 10 metres from a riverbank. The house is only 8 years old but before we can look to exchange my solicitor has asked to check that the insurers cover for flooding . So I have contacted a few which have said they do cover for flooding but in the policy document wording on most of these it says that the building will be covered for flooding but not if subsidence happens due to flooding . Also when it says subsidence it covers but not for coastal or riverbank if it is worn away. So if the river which is 10 metres away eroded 10 cm and the house suffered from subsidence then I presume it would not be covered.

I don't need people to say to not buy a house by a river but if anyone has been in a similar position and are there any flood insurers that specifically deal with properties next to the river bank. Or are all properties not covered when they flood for subsidence or problems afterwards ?. As I would think that would be tens of thousands if not more homes that would not be covered.

Replies

  • mojo1mojo1 Forumite
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    Part of the Furniture 1,000 Posts Name Dropper
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    Try a broker, they will be able to find someone who offers the cover you want. It won't be cheap.
  • jimbo6977jimbo6977 Forumite
    579 posts
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    Definitely broker. 
    We lived in a flat on the 2nd floor near to a canal where the water flow was controlled to the nearest cm with absolutely zero risk of flooding and still regular direct insurers didn't want to know. 
  • chriswchrisw Forumite
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    So I have contacted a few which have said they do cover for flooding but in the policy document wording on most of these it says that the building will be covered for flooding but not if subsidence happens due to flooding . Also when it says subsidence it covers but not for coastal or riverbank if it is worn away. So if the river which is 10 metres away eroded 10 cm and the house suffered from subsidence then I presume it would not be covered.

    I'm not too sure what you're saying but it would seem to me that subsidence is covered unless it's due to flooding affecting the foundations or the riverbank eroding 10m to affect the stability of the foundations, ie the erosion causes the subsidence.
  • mojo1mojo1 Forumite
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    Part of the Furniture 1,000 Posts Name Dropper
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    jimbo6977 said:
    Definitely broker. 
    We lived in a flat on the 2nd floor near to a canal where the water flow was controlled to the nearest cm with absolutely zero risk of flooding and still regular direct insurers didn't want to know. 

    Friend of a friend lived somewhere a bit like that, all was great for 30 years until someone made a mistake and it flooded. Insurance shot through the roof as expected. They were considering legal action against the person who made the mistake but I don't know what came of it.
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