Chancel repair insurance

[mumdone]

Is it worth it these days? It insures between exchange and completion.

Chancel repair liability insurance is in case the local church decides to ask property owners to contribute large sums of money to repair the church! Recommended if you are buying in an area affected.

Taking out buildings insurance between exchange and completion is something else entirely and you should in case the property burns to the ground during this time.

As above, chancel repair is to do with the contribution to the church which can be asked of you at any time!

You need buildings insurance between exchange and completion

Thanks guys I understand that. Apparently chancel repair legislation has recently changed and now they can only seek a contribution between exchange and completion. So there’s a very very small chance of it happening.

The chance of it happening are tiny, but not impossible.

Given chancel repair insurance is incredibly cheap it might just be worth taking it to be on the safe side.

Not quite. The liability falls away if they (the benefitting church) haven't registered it before completion.

If the liability is registered before completion they could ask for contributions at any time in the future, so it's effectively the risk of registration (which is very unlikely) that you're insuring against.

As a PP says it's very cheap. Get the insurance.

Depends on cost and where you are I'd say - if it's suburban or urban it's unlikely a CRL exists. If it's a rural village location there's more chance.

Depends on the quote and on how long your gap is between exchange and completion. It’s usually really cheap so I’d just get it.