Building insurance - property not yet owned

FakeMoustache

Hi

I'm facing a rather difficult situation and would like a second option.

I was supposed to simultaneously exchange and complete on a property purchase yesterday. It's been going through probate for over a year, so I was very happy to be at this stage.

On Monday of this week, my solicitor was informed by the vendors solicitor that a pipe has burst in the attic, which was discovered last Saturday. I'd estimate that two thirds of the property is damaged (ceilings down, walls dripping, you name it).

Turns out that despite the property being unoccupied for over a year, the vendors didn't ensure there was sufficient oil to run the heating, and hadn't drained the water system. Last week's cold weather the likely culprit.

So the vendor is exploring options with their insurer (the above circumstances make me worry on their behalf as I'm not sure they will get cover).

Regardless, as I thought we were close to exchange in December I bought buildings insurance for the property. On the 'Statements of Fact', I started, in good faith that it was owned by me and not unoccupied for more than 30 days at a time (the sale was then delayed for a few weeks). I viewed the property last Monday on the advice of my solicitor, and it was all in good order.

Do you think there is any chance my insurance company would even consider cover given the circumstances? I'm thinking probably not, but a payout to help us source alternative accommodation whilst the property is fixed would be very helpful right now.

Thanks

Rodders53

No.  Do not go there.  You lied on the application.  You (still) don't own the property and have never occupied it.

Oil boiler will likely need costly repairs if run dry of kerosene and may have pulled in water from bottom of tank.

DullGreyGuy

You haven't exchanged contracts and so you have no insurable interest in the property. The vendor has to fix it or you reduce your offer to reflect the damage