Damp insurance - rip-off?

horsepills

A few years ago, we had damp-proofing work done on our house by a company called Terminix. The work they carried out was "guaranteed for 20 years". However, Terminix was later bought by another company & started trading as "Peter Cox Ltd" - we received a letter from the new company saying that the 20 year guarantee was no longer valid - they offered insurance via a 3rd part to insure the work for a small yearly premium.

We paid the insurance, and it is shortly due for renewal - this time we've received a letter from yet another insurance company (GPI Ltd) saying that Peter Cox Ltd can no longer offer us insurance (they've been bought again!) but they are willing to insure our damp proofing for a yearly premium of....£58!

GPI Ltd seem like a legitimate company, regulated by the FSA - but this insurance seems pricey, and I'm not sure if it's needed. Can anyone offer any advice??

jonesMUFCforever

Have you had any damp problems since the work was done?

If not I suggest that you are wasting your money.

horsepills

ejones999 wrote: »

Have you had any damp problems since the work was done?

If not I suggest that you are wasting your money.

no problems since the work was done. seems like an unreasonable insurance to me, but you just worry that something happens after you decide not to take it out!

jonesMUFCforever

If you put in £58 a year for the next ten years you will have an useful pot just in case you do need to get somebody out to deal with your next damp problem.