PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.

Mines and Minerals insurance

waveydavey48
waveydavey48 Posts: 178 Forumite
Part of the Furniture 100 Posts
in House buying, renting & selling
Hi, does anyone know roughly how much this costs please?

The people selling the house I'm buying are reluctant to pay for cover because the risk is so remote (though surely that means the cover would be cheap?)

If anyone has bought it are you able to say how much it was please?

Thanks

Comments

  • DullGreyGuy
    DullGreyGuy Posts: 17,218 Forumite
    10,000 Posts Second Anniversary Name Dropper
    As a type of property indemnity insurance its relatively cheap compared to the sums insured and the duration. Broker will want title, value of the property and confirmation of no known problems. Prices are often in the £100-£200 range for a multi-year or even an indefinite policy
  • user1977
    user1977 Posts: 17,284 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    Peanuts, in the grand scheme of things.
  • caprikid1
    caprikid1 Posts: 2,397 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Combo Breaker
    "The people selling the house I'm buying are reluctant to pay for cover because the risk is so remote (though surely that means the cover would be cheap?)"

    Not sure who would pay for a policy that they could never benefit from for a risk they are not exposed to. I don't insure my neighbours car for him either.

    If you are worried pay for the policy, I doubt the seller is willing to pay your house insurance either....
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 349.8K Banking & Borrowing
  • 252.6K Reduce Debt & Boost Income
  • 453K Spending & Discounts
  • 242.7K Work, Benefits & Business
  • 619.5K Mortgages, Homes & Bills
  • 176.4K Life & Family
  • 255.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture