Subsidence Property Insurance - a letter from a client

Neil Cook a specialist insurance broker for properties in flood risk areas, properties suffering from subsidence and clients trying to source insurance who have criminal records has just sent us the following.

"I am/was in the process of buying a property in Worcestershire. It is c 1820 and very obviously had a tie bar through it. The survey from the last sale of the property 2 years ago said that all of the settlement was historic and so I wasn't expecting any problems. My own surveyor didn't agree and believed that some of the issues were historic and some were recent/ongoing. I then commissioned a structural engineer who agrees with my surveyor. He has given me his verbal report and I will get the written one on Friday or Saturday morning.

The word "subsidence" hasn't been used yet - just "movement" and "settlement" but I wouldn't be shocked if the more dreaded S word cropped up. He is recommending underpinning of a very small area at the front of the property, another tie bar and some helibars.

I intend to do the work if I decide to go ahead with the house sale. I am in the fortunate position that I have somewhere else to live so can have the work done in an empty house before I move in. The major issue for me is insurance. I am not aware of any previous claims at all but I know that I obviously have to be completely honest with the position to ensure that any policy I have is valid in the case of anything going wrong. If the cost is prohibitive I will pull out of the sale.

I clearly need a broker as I absolutely have to get this right; internet research keeps throwing up your name so I hope you don't mind me contacting you.

I assume you would be able to help me? What are your fees please and how long would it take to get a quote once I supply you with the relevant documentation? I can't do the work before I own the property so I need two quotes really - one for pre work and post work. Is that possible? The property is currently insured with (name removed), but is clearly being insured on the basis that the settlement is historic; that was true as far as the vendor is concerned but I now know different.

Time wise I'm beginning to struggle. I've put the conveyancing on hold as I won't proceed with this until I know whether I can afford the insurance. It may not be as bad as I fear but I want to know that before rather than after I'm legally committed to the purchase.

I look forward to hearing from you as soon as possible."

Neil tells us "I got her a quote within 5 mins before the office even opened the premium was 50% less than any other specialist provider offered"

To contact Neil Please click here