YOU may wonder whether you need Subsidence Home Insurance. The answer is simple in my view, I think everyone needs Subsidence Home Insurance because if it ever happens to you then it could cost tens of thousands of pounds to fix and that is what insurance is for.
If you have standard buildings and contents home insurance, check your policy to see if it covers for subsidence. Most policies will do so with a £1000 excess for any claim. That is normal and there’s not much you can do about that.
If your policy has subsidence excluded, like some very cheap price comparison sourced policies might, then you need to change it. If you suffer subsidence the cost of repairs can be huge. Underpinning a house is not cheap.
When you consider that as many as one in four homes may suffer from subsidence at some point, it’s cover worth having in your insurance. This level of cover with £1000 excess normally adds little or no appreciable extra to the cost of your policy. If you want to pay less excess, then speak with the broker. But you can except them to say no or increase the premium considerably as this is not a typical request.
You will need specialist Subsidence Home Insurance if you have suffered subsidence and made a claim. That is at any time in the past at the property you are insuring.
This insurance recognises that you have suffered a claim in the past and then looks much closer at your requirement moving forward. It is not punitive, in terms of because you made a claim they will load your premium. It simply assess the risk of subsidence in the future differently.
The good news is if you have had the problem fixed properly by good contractors, then the chance of subsidence happening again is slim. That allows specialists to reduce the cost of insurance considerably and still cover you for subsidence in the future.
Time since the claim on your home insurance is a factor as well. Generally after five years since a subsidence claim, you will see home insurance prices similar to normal policies. You need the specialist provider to access this though.
The Property Insurer gets you in contact with three of the best Subsidence Home Insurance providers in the UK who compete for your policy and drive prices down. The policy quality is high as well, these are the best suppliers.
The Property Insurer