THE only reason you will ever need Subsidence Insurance is because you will have suffered subsidence at the property you live in or there are lots of properties around you that show signs of subsidence. If you cannot tick one or both of these boxes then you will not need Subsidence Insurance.
If you don’t need specific Subsidence Insurance then the best thing to do is to buy normal home insurance and make sure that subsidence is covered. These buildings policies are designed for normal risks but will cover subsidence, normally with a £1000 excess. That’s all fine and right if you have never suffered subsidence and don’t live in an area with history of subsidence. To price compare home insurance with subsidence cover for those that have never suffered from it, visit The Property Insurer where you can compare quotes and buy online instantly.
If you have suffered subsidence though, there is no getting away from the need for Subsidence Insurance. This is your home insurance for after you’ve made a subsidence claim. It recognises you’ve had a claim in the past and will be rigorous in investigating how the property was fixed and whether the contractors were approved or not.
The good news is that if the problem was fixed properly via underpinning or other method by an approved contractor then the specialist Subsidence Insurance broker understands that and can rate the risk accordingly. In these cases, the chance of subsidence reoccuring is slim, probably less than a normal house, so they can reduce the cost of the policy in line with that and still provide future cover against subsidence.
The same is true if you live in an area that has lots of properties with subsidence. That means the risk of you suffering subsidence is high, even if you have not suffered it yet. The insurers will be expecting you to have a claim, hence you will need specialist Subsidence Insurance cover because normal home insurance will not cut it. That’s not great news but as you are claim free it doesn’t mean you’ll be paying huge sums of money either.
Those are the two circumstances you need to know about if you want to know when you need Subsidence Insurance. To get the best priced and best policy coverage Subsidence Insurance in the UK today, visit The Property Insurer.