Elite Insurance / PwC letter re: Administration

Choc_olates1

I've received the same letter, on checking my paperwork it appears to relate to a solar panel installation too. Interesting to hear what happens next.

Seafield42

I have the same letter. After much searching I found that the policy relates to window replacements in 2013. It would have been really helpful if PWC had supplied more information than just a policy number.

Egsray

I had the same letter, which sat in my 'too time consuming to investigate' pile until now. Thank you to all posters above who made my paperwork search so much easier. I have traced the policy to some roofing work I had done in 2016 - new soffits and gutters, fitted by a local company. I found a leaflet from the Consumer Protection Association and from there a telephone number on their website. They were very helpful and were able to link the policy number on the pwc letter to a 10 year guarantee on the product with a few months left to run.

nannypink

We've just received one of these letters from PWC today, like many others have said, we too have no recollection of any policies with Elite

frankieb123

https://forums.moneysavingexpert.com/discussion/comment/81855226#Comment_81855226

Hi I have received 2 of these letters, first one a couple of months ago and I chucked it in the bin. Got another one yesterday. Checked through all my documents and found the same as Florryshow that it was Conveyancing Insurance. Looks like I will have to seek legal advice as I haven't a clue if this affects me in anyway.

MyRealNameToo

https://forums.moneysavingexpert.com/discussion/comment/81938138#Comment_81938138

Pay a solicitor if you want to for peace of mind but surely you check the duration of the insurance and if its already lapsed you can save a few hundred in solicitor fees

frankieb123

On the documents I found it says:

Period of Insurance: This Policy protects you forever. It also insures people who own the Property after you and any heritable creditors or tenants who have an interest in the Property.

Probably will seek legal advice, don't fancy being uninsured for something out with my control.

MyRealNameToo

Your money your choice. Do you actually know what the policy covers? Are you aware of the law of limitations and that therefore its much shorter than forever in practical terms?

frankieb123

https://forums.moneysavingexpert.com/discussion/comment/81938298#Comment_81938298

The reason I am unsure is because it is Conveyancing insurance. This is from google:

Conveyancing (indemnity) insurance generally lasts

 indefinitely

It is a one-off payment that attaches to the property rather than the owner, meaning it remains in place for future owners and lenders. While most policies last forever, some may need to be updated if the property value increases significantly.

So I will need to check if this is something that needs to continue and if by Elite Insurance going belly up have they broken a contract and will I need to organise a new conveyancing insurance.

Must say why bother replying to people if your tone is going to be argumentative and condescending.

MyRealNameToo

So it's an indemnity policy with an odd title then? Can you remember the problem that triggered the suggestion that it should be bought? Normally something like building regs sign off couldn't be found, chancery repair liability, restrictive covenants that have been breached etc?

Did you or your lender want it?

In principle they can be passed forward to future owners but in practice many forget they have them and it's just a debate if you or the buyer should be the one that pays for a new policy.

How long ago did you buy the property?

Things like Chancel Repair Indemnity policies can be as little as £25 so probably not sage to spend hundreds for a solicitor to review it