UK Buildings Insurance - Some Helpful Information When Dealing With Insurance Claims For Subsidence
Friday, May 14th, 2004Firstly, this is going to cost money. There will inevitably be a serious excess, in other words you will be asked to pay the first part of any claim. The majority of UK policies now impose a 1,000 excess but you can find one for less. It s best to have some savings put to one side!
Secondly, your claim could take months, if not years to finalize. There is a lengthy set of exclusions. Here is a typical list. If one or more of these apply, you might well be without any help from your insurer. No outside gates, terraces, paths, decks, drives etc. are covered if none of your main buildings or outbuildings are damaged. Subsidence as a result of coastal erosion.
Movement of solid floor slabs unless foundations beneath outside walls are also damaged by the same cause. Settling of newly erected buildings or newly made-up ground settling. On a happier note there are the extras that are included in standard cover. These exceptions provide some accidental damage cover with your standard policy. As owne (more...)
