Indemnity Insurance

cdsurrey

We are trying to sell a property. We’ve had some minor roof repairs carried out by a self employed person. The buyer wants a guarantee. The self employed person isn’t set up for that. Has anyone taken out an indemnity policy to cover roof issues to enable a sale to go through? If so, who with? Otherwise, any ideas on how we can get this resolved? 

hazyjo

Just say you're happy for them to pay for someone to come and inspect the roof. Nobody doing odd jobs is going to give a guarantee. And I don't see how indemnity insurance will help at all!

cdsurrey

Unfortunately, our buyer is proving very difficult to appease. We need something to get completion over and done with. The estate agent suggested indemnity insurance. 

theartfullodger

I got indemnity insurance for a demolished concrete balcony that cost me all of £14:09.

The demolition (it was dangerous, falling down ) cost me £1500

cdsurrey

theartfullodger said:

I got indemnity insurance for a demolished concrete balcony that cost me all of £14:09.

The demolition (it was dangerous, falling down ) cost me £1500

So where did you get the indemnity policy from? I’m stuck! 

Thrugelmir

Your buyer should get someone to inspect the entire roof if they have concerns. Majority of roofing contractors are self employed. It's the nature of the trade. 

davidmcn

theartfullodger said:

I got indemnity insurance for a demolished concrete balcony that cost me all of £14:09.

The demolition (it was dangerous, falling down ) cost me £1500

What risks did the indemnity insurance actually cover though?

FinallyStoppedLurking

cdsurrey said:

theartfullodger said:

I got indemnity insurance for a demolished concrete balcony that cost me all of £14:09.

The demolition (it was dangerous, falling down ) cost me £1500

So where did you get the indemnity policy from? I’m stuck! 

Tell the estate agent you are willing to consider paying for indemnity insurance (dependent on cost) and ask them to get the buyers solicitor to find a policy they are happy with and forward to your solicitor. 

theartfullodger

cdsurrey said:

theartfullodger said:

I got indemnity insurance for a demolished concrete balcony that cost me all of £14:09.

The demolition (it was dangerous, falling down ) cost me £1500

So where did you get the indemnity policy from? I’m stuck! 

F K.  My solicitor sorted it & added it to the bill.  (Dunno what extra he charged for doing that). Any competent solicitor should be able to : But not all solicitors are competent, nor all buyers, certainly not many estate agents, nor all sellers...

AskAsk

i don't think you can get indemnity insurance for something like this as it is a guarantee that the roof is in good working order.  you only get a warranty if you have new roof done or major structural work done.  if the repair has been major and the roofer won't give you a warranty, then you could pay for a surveyor to certify its condition.