Individuals should take great care when insuring homes that have had a previous subsidence incident.
BEWARE: Some Insurers will give subsidence cover but will exclude the causes of the pre-existing claim. Since subsidence is normally caused by many factors this in effect means that in reality NO future claim for subsidence could ever be paid since you will never be able to prove that the new incident is not connected to the previous incident.
The easiest way to continue with full subsidence cover is to continue the insurance with the existing Insurer who then cannot put terms on the subsidence cover other than increase the excess/ premium for the existing policyholder. But with change of ownership there is no obligation on insurers, so in practice, this is fine if you are with recognised Insurers, but with smaller Insurers & Bank schemes this may not be as easy as it sounds.
The alternative is for insurers to review the past subsidence incident (They will want to see any claims information you can supply) as well as an up to date surveyors report. This will confirm the present condition of the premises. which then enables insurers to bench mark the condition of the property at the time of survey.
Horner Blakey have access to Specialist Insurers who will review each circumstance individually & we would be happy to discuss your individual case with you.
We recommend that you make sure your insurance policies are endorsed to note the past subsidence incident and the fact that insurers have seen the surveyors report so that there can be no contention if you are unfortunate enough to have a further issue.
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