Subsidence insurance
IF you have a property that has suffered from subsidence in the past then you may think that it is difficult or expensive to get subsidence insurance but it doesn’t have to be that way.
Generally if you have suffered a claim for subsidence in the past then you have already experienced the pain and probably put it right under your previous insurance. Underpinning is a popular way of fixing a subsidence problem and is a strong solution that many specialist insurers will take into account when calculating the risk and cost – so you shouldn’t be worried about paying huge prices for your premium but you will need to talk to a specialist insurer who understands subsidence if you want to keep prices down.
Specialist insurers know the subsidence and underpinned market very well. They know the problems, pitfalls, solutions and can accurately assess the risks involved. This allows them to provide the right level of cover at a sensible excess and price.
Your standard home insurer could easily just load the price to an obscene level to reflect your previous subsidence claim because it doesn’t really understand what is going on. And because you are afraid to move away you could be paying a lot more than you need to if you were insured by a specialist.
The hard part used to be finding a specialist subsidence insurer. That’s not the case anymore with The Property insurer as it can plug you in to a specialist provider with extensive experience and excellent prices and cover quickly and easily.
Just go to The Property Insurer and click on the Subsidence Insurance link and then follow the on screen instructions to get a quote. Many cases will be as simple as quote and buy online but in more complicated cases or higher previous claims values you may expect to be called by the insurer to follow up with some questions.
And if you don’t have any subsidence history then generally you will not need to buy subsidence insurance. Instead, a standard home policy will suffice and it normally covers subsidence but will apply a heavy excess if a claim is made – typically £1000 or more. The excess is effectively a safety net for the insurer to try and minimise losses and possibly claims – although if you do suffer subsidence you should make a claim and get the problem fixed as £1000 is likely to be only a small proportion of the cost.
One thing is for sure, with The Property Insurer you will be able to get a quote for mild or extreme subsidence insurance at a realistic and often lower than you may think price, so visit today.
Jason McClean
The Property Insurer
