hOUSE BUILDINGS INSURANCE - subsidence history

PeterColchester

In January 2015, I called 20 home insurers from a list reviewed by Which?, and asked whether they would cover a property with previous subsidence.

My notes are below, which are correct to the best of my knowledge, but should be checked for yourself because products may change any time, and there could be other exclusions, for example based on postcode, etc.

I didn't call any insurers which specialise in over-50s or females only, because I am not in those markets.

Here are the insurers who told me they could cover properties with prior subsidence, and some notes:

(Where a structural engineer's report is needed, I was told that a surveyor's report would not be enough.)

**** Insurer - Brief Notes ****

Marks & Spencer Bank - OK if subsidence more than 10 years ago.
Natwest - Not if property has been underpinned.
Royal Bank of Scotland - Not if property has been underpinned.
HSBC - Need a structural engineer's report within the last 12 months to say the building is now sound.
Aviva - OK if subsidence more than 5 years ago, plus need same report as for HSBC.
Nationwide BS - OK if more than 20 years ago.
Sainsbury's Bank - Not if property has been underpinned.
Halifax - OK, as long as you can confirm there is no current damage due to subsidence.
Santander - They ask about subsidence and underpinning, and may need to refer to underwriters.
Post Office - Need a structural engineer's report dated after completion of any corrective work, then some of their underwriters may insure.
AA Insurance Services - Need a report same as Post Office, plus they have some questions.
Castle Cover - If subsidence was more than 25 years ago.
Legal and General - If subsidence was more than 15 years ago, subsidence and underpinning are OK - this is part of their standard acceptance criteria.
Axa - If subsidence was more than 10 years ago.

I was also told that the following comparison sites, amongst others, asked about subsidence and would then recommend insurers based on your answers:
GoCompare
CompareTheMarket

Several other insurers said they would cover if they were the insurer at the time the subsidence originally occurred.

Specialist insurance brokers can also find cover.

Disclaimer: please check everything for yourself before making any decisions based on this, I am not a financial adviser!

thunkpad

PeterColchester wrote: »

In January 2015, I called 20 home insurers from a list reviewed by Which?, and asked whether they would cover a property with previous subsidence.

My notes are below, which are correct to the best of my knowledge, but should be checked for yourself because products may change any time, and there could be other exclusions, for example based on postcode, etc.

I didn't call any insurers which specialise in over-50s or females only, because I am not in those markets.

Here are the insurers who told me they could cover properties with prior subsidence, and some notes:

(Where a structural engineer's report is needed, I was told that a surveyor's report would not be enough.)

**** Insurer - Brief Notes ****

Marks & Spencer Bank - OK if subsidence more than 10 years ago.
Natwest - Not if property has been underpinned.
Royal Bank of Scotland - Not if property has been underpinned.
HSBC - Need a structural engineer's report within the last 12 months to say the building is now sound.
Aviva - OK if subsidence more than 5 years ago, plus need same report as for HSBC.
Nationwide BS - OK if more than 20 years ago.
Sainsbury's Bank - Not if property has been underpinned.
Halifax - OK, as long as you can confirm there is no current damage due to subsidence.
Santander - They ask about subsidence and underpinning, and may need to refer to underwriters.
Post Office - Need a structural engineer's report dated after completion of any corrective work, then some of their underwriters may insure.
AA Insurance Services - Need a report same as Post Office, plus they have some questions.
Castle Cover - If subsidence was more than 25 years ago.
Legal and General - If subsidence was more than 15 years ago, subsidence and underpinning are OK - this is part of their standard acceptance criteria.
Axa - If subsidence was more than 10 years ago.

I was also told that the following comparison sites, amongst others, asked about subsidence and would then recommend insurers based on your answers:
GoCompare
CompareTheMarket

Several other insurers said they would cover if they were the insurer at the time the subsidence originally occurred.

Specialist insurance brokers can also find cover.

Disclaimer: please check everything for yourself before making any decisions based on this, I am not a financial adviser!

That's extraordinarily useful. Should help me no end when I try to get some quotes. Thank you!

rs65

thunkpad wrote: »

That's extraordinarily useful. Should help me no end when I try to get some quotes. Thank you!

Please bear in mind that many of the 'insurers' referred to are actually brokers or intermediaries and the insurers they use can change from time to time. In fact, insurers acceptance criteria can change regularly.

mj1

Just Checked Nationwide and they decline if you have ever been underpinned. Need to update the list I had hoped to buy Nationwide insurance as they had insured us in past.

This is the statement I got via online agent...

"Keeley: No problem, we can insure you if the subsidence is repaired with no issues over 20 years but if the house has been underpinned this is a decline, I'm really sorry."

Seems contradictory to me...

mj1

OK a further update, just got off phone with Nationwide, if the house has been underpinned it can not be insured.

If it has not been underpinned but has had subsidence but no further problems in 20 years they will insure it...

We are with Legal and General and I guess will stay with them as quote not too bad, would have saved £70 odd quid moving to Nationwide...

The joys of having a house that was underpinned...