The bulk
of Uk Building insurance providers include the peril
of subsidence as part of their core wording.
It is a very important
insurance peril and you will find it difficult to
secure a mortgage on a property that does not have it
as part of the core policy wording. Most lenders
include it in there handbook as a must have cover so
it is essential that any insurance you arrange
includes it
If you are in the process of
buying a building that has suffered previous
subsidence damage it is a good idea to check the
availability of cover before you actually exchange contracts.
The first port of call is usually
the existing insurance company and the vendors of a
property should prove quite helpful in passing on this
information to you.
Uk insurance companies prefer that any building with a
history of subsidence to stay with the existing
insurance company. If a building has been underpinned
or is showing signs of subsidence, insurers tends to
refuse cover as often problems can reoccur in the
future and claims costs can be very high.
Shrinkage and swelling of clay soil
is the most common cause of foundations related
damage to home buildings and a large proportion
of this can be attributed to Trees. Insurers
statistics show that up to 70% of all claims involve
buildings that are situated on clay soil, trees and
shrubs play a big part in the removal of water from
this type of soil.
If you have Trees or Shrubs situated
close to your building is a good idea to put in place
a maintenance program, it is best if you consult a
professional for specific information before any
action is taken. This type of " Risk Management
is a particularly good idea to avoid any problems occurring
even if you do have insurance in place.
On shrinkable clay soils can be
attributed to water removal by trees or shrubs close
to the property. It is important to
protect property from potential subsidence
damage, as even with an insurance policy it may prove
difficult to sell a building that has suffered from
subsidence damage
The exact amount that clay soil will
shrink depends on a number of different factors
including the type of Tree/Shrub and it's distance
from the house, certain types of Tree are known to
draw more water from the ground than others. When
applying for Building insurance, you may well find
that your insurers asks you for information relating
to the size and proximity of tress before they will
quote you a premium.
If you do spot any of the tell tale
subsidence signs, it is a good idea to inform your
insurance company straight away as they will probably
want to come and inspect the building and start
monitoring the amount of movement taking place.
Subsidence-Tell
Tale signs in your Building
- Diagonal Cracks, that are
normally wider at one end and appear in the walls
around the doors and windows, both inside and out.
- Any Cracks in excess of 5mm
- Doors or windows that stick or
will not open or shot properly
- Any Flooring that begins to
slope.
