THE only people that need dedicated subsidence insurance are those that have suffered a claim in the past.
Subsidence is rare but when it happens it can have devastating effects on your home, insurance and patience. If you have experienced subsidence then you know what a nightmare it is and how important it will be to get good insurance and protect yourself in the future.
If you have never had a subsidence claim in the past, then you should be covered under a standard home policy. Normally this will be with a large excess payment specified on the policy, around Â£1000 or possibly more. Â Just check your policy to make sure it is included. Also, be careful when answering any questions about signs of subsidence or ground heave near you Â be honest and donÂt try to hide the fact if it is happening, it needs to be accounted into the risk. However, without a prior claim, you donÂt need specialist subsidence insurance.
So, if you do need subsidence insurance then you will know a lot of the questions you will be asked already. When did the claim happen, how much for and how was the problem remedied?
How the subsidence was fixed is important because if you have pilings or underpinning, these are serious structural engineering solutions and will minimise the opportunity for subsidence to return. A good insurer will account for that and give you credit when quoting a price to you. Rather than fully load the price, they will understand the risk is considerably reduced and therefore price accordingly. So the more information you can supply, the better, it will help them determine the right and realistic price for you.
You need to shop around at least two, if not three specialist supplier as well. This is manual comparison but it will make sure you are getting a fair deal rather than paying over the odds.
The easiest way to do this is to go to the subsidence insurance button on The Property Insurer. A single quote form that takes two-minutes to complete is then sent to three of the UKÂs leading specialist insurers and they will come back and fight for your business Â that pretty much compares prices for you and allows you to buy direct.
Alternatively, search on Google for subsidence insurance specialists and compare them yourself, it will just take a little longer.