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Subsidence insurance
Subsidence doesn’t just happen to houses perched on the edge of cliffs – mining, water abstraction, extreme weather conditions, tree planting and tree removal can affect the ground beneath your house, so every property owner should consider getting subsidence insurance. Some houses are at higher risk than others though, and you might find it difficult to get a cheap home insurance policy if your house has a history of subsidence.
How do I know if my home is at risk from subsidence?
If you’re moving into a new home, make sure your solicitor finds out about the property’s subsidence risk during the conveyancing process. A high risk doesn’t necessarily mean you shouldn’t buy the house – if you do decide to buy, make sure you take out a good subsidence insurance policy.
If you’ve already moved in, there are some obvious signs you should look out for. If you notice any of these, you should seriously consider subsidence insurance:
Cracks or bulges appearing in walls.
Doors and windows beginning to stick.
Ripples appearing in wallpaper.
How do I get subsidence insurance?
Insurers are pretty cautious about subsidence insurance, as pay-outs can be so expensive. Properties in the highest risk areas may need to be regularly assessed, and premiums may increase because of long-term risks.
Most home insurance policies include subsidence insurance, either as standard or an added extra – check your policy’s small print for details. The Association of British Insurers (ABI) recommends that people go through a broker to get the best deal. Check out the ABI's website (www.abi.org.uk) for more information.
