This is partly determined by what you mean by ‘subsidence house insurance?’ If you mean, ‘do I need to insure my home in case of subsidence’, then yes, it is advisable. Should your home have no history of subsidence, this is very often included at a small, or occasionally at no extra cost, by many insurers within a standard policy. If however, you mean that in the past your home as suffered from subsidence, heave, landslip or any form of historical movement, then yes, you will most certainly need specialist subsidence house insurance going forward.
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Reasons why you may need specialist subsidence house insurance
If any of the below applies to your property, then it is well worth speaking with specialist subsidence house insurance providers:
- Your home has suffered subsidence in the past
- Your property has a history of movement
- Your property has previously been underpinned
- There has been an incidence of subsidence at a neighbouring property
- Subsidence or historical movement has been flagged in a mortgage surveyors report
Listed buildings and subsidence house insurance
Many historical homes and listed buildings can show signs of movement simply due to their age. However, what do you do if your listed property has suffered subsidence in the past? Although is this may sound like every home owners nightmare, provided you are dealing with a knowledgeable and specialist insurer, chances are high that a policy can be tailored to your property’s unique requirements, without resulting in extortionate premiums.
New builds and subsidence house insurance
Although there may be an assumption that new builds are free from the threat of subsidence, interestingly in insurance terms, if there is no precedence in the local area, new homes may sometimes be considered a slightly higher risk.
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Subsidence house insurance: What do you need to give your insurer?
If your home has suffered from subsidence in the past, then your insurer will need proof that it has been addressed. On completion of works to remedy subsidence, your builders and surveyors should provide you with all of the following; Interim and Final certificates, a certificate of Structural Adequacy, a Structural Buildings Survey and a Structural Engineers Report (either Specific or General or both). As a general rule of thumb when dealing with any matters concerning subsidence, either historic or current, keep your insurers informed at all times.
Subsidence house insurance: What do you need from your insurer?
If you are looking for subsidence house insurance, then you are well advised to use a specialist insurer. In order to keep premiums to a minimum, ideally you require an insurer with the ability to underwrite individual circumstances.
At Highworth Insurance our specialist underwriters’ deal with cases of subsidence on a regular basis and so have the skills and experience to assess the unique types of risk associated with your property. You can speak to any one of our specialist advisors for a knowledgeable discussion about subsidence house insurance and a competitive quotation on: 01202 937430.