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Subsidence Underpinned Properties


Due to less than normal British weather ! Subsidence is on the
rise this can have several effects on your household insurance or
even commercial property insurance. Firstly if you are in an area
with poor soil it is definitely worth checking that your premium.
Particularly if you brought the policy with the mortgage or online
as certain insurers are over pricing some subsidence prone areas.
So please do try an expert in this field like the award winning
Delite Insurance Agency.

Much more importantly if your property has suffered subsidence
and your insurer has continued cover after a claim do compare rates
from a specialist in this field as you may find you have been paying
far too much. The real problem will arise should you try to sell
your underpinned home although some years ago insurers all promised
that they would transfer cover to a future buyer they frequently
avoid actually doing so ! If you are very lucky they may only inflate
the premium they give the buyer by 200%, if you are with an insurer
that for example only insurers the over 50’s you will find it a
saga when you to sell as inferably the buyer does meet the age or
other criteria. So your property becomes unsellable as the buyer
cannot get insure that meets the mortgage conditions you might be
lucky and find a cash buyer BUT they will never offer full market
value.

Som insurers say that any policy they sell on a
subsidence affected property is guaranteed to pass onto the future
buyer no matter what their insurance history . Nor do they include
subsidence excesses that exceed the £1000 maximum that lenders
allow. Perhaps most importantly they do not need costly or time
consuming additional survey reports so they can arrange cover usually
on the same day at prices that are a lot lower than you would expect.
Feed back states they a offer a truly professional service.

Don’t forget if your property shows cracks that are just
settlement due to the age of the property it is often deemed by
most usual insurers to be just as bad as full blown subsidence.
A final word of caution do not take a separate buildings and contents
on a subsidence affected property as you will in the event of any
claim you will not be covered.

A golden rule you must remember IT IS THE DUTY OF THE POLICYHOLDER
TO TELL THE INSURER ABOUT ANY PREVIOUS CLAIM AND NOT THE DUTY OF
THE INSURER TO ASK !!!!! Please do be careful is you buy your insurance
online as you will waste your money and find the property is in
fact not insured.