If you buyÂ property insurance and have ever had the misfortune of experiencing a subsidence claim you will know how even the most minor of occurrences can take such a long time to settle compared to the run of the mill type claims for theft, storm or fire.
I read an interesting article in the insurance press recently which prompted this blog post, it was a firm stating that subsidence claims are typically the most challenging for them technically and subsidence related claims take longer to settle than any other claim made under a buildings insurance policy, in my 20+ years in the insurance industry I am inclined to agree.
The principle factor determining the length of subsidence claims is establishing how the damage was caused in the first place, insurers will usually dispatch a loss adjustor to inspect the property and assess the severity of the damage and put in place a plan to resolve the subsidence damage.
After the initial report and survey of the property it is usual for an insurer will adopt what I call a Âdeliberate delayÂ, or what insurers refer to as Âwaiting timeÂ, to assess the patterns of damage and rate of movement, these delays whilst frustrating for the policyholder are a necessary step to hopefully prevent further misery.
Unfortunately when it comes to customer complaints this waiting period tends to be the main bone of contention with insurers, Âthe lull after the stormÂ following a period of intense activity with property and claim professionals all highly visible then they seem to disappear!
After the waiting period, the insurer in conjunction with loss adjustors and other building experts such as building surveyors or engineers will then look carefully at the options to the property back to its pre-claim condition.
I accept that Âwaiting timeÂ is an important part of the process, and indeed often serves to be in the customersÂ best interest, but unfortunately it isn’t always communicated in the right way and thus an already worried customer turns into an angry, frustrated customer looking for action.
Subsidence claims are enormously stressful and it’s a shame that so many of these problems could be prevented with clear, pro-active communication explaining the process and managing customerÂs expectation, it isnÂt rocket science but good communication is often the missing ingredient to a successful claim and a happy customer prepared to renew.
The Property Insurer works with a number of leading, specialist subsidence insurance providers in the UK who will do their best to provide comprehensive insurance cover at a price to suit your budget. DonÂt delay, visit The Property Insurer today and click on the subsidence insurance button.
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