Bespoke indemnity insurance cost

[Evecob]

Does anyone know how much bespoke indemnity insurance can cost? Has anyone had to get something like this before?

What are you trying to insure against?

Yes we had to get a bespoke indemnity insurance policy 2 years ago for the house we were selling which had no building sign off certificate (long story!) It was no where near as expensive as we thought it would be i think it was around £180 from what I remember. Hope that helps!

@Mildura

What are you trying to insure against?

The house we are buying doesnt have a management company charging them or maintaining their private road it turns out. Not for the 3 years its been built. So we had to get a letter from the developer to say he will not be charging residents, never has, and we are to set up our own committee to maintain the road.. fine with us as its just a road to maintain. Our solicitor says the normal insurance doesnt cover us

@alifelessordinary

Yes we had to get a bespoke indemnity insurance policy 2 years ago for the house we were selling which had no building sign off certificate (long story!) It was no where near as expensive as we thought it would be i think it was around £180 from what I remember. Hope that helps!

Interesting! do you remember how long it took to sort out?

The seller would usually get indemnity cover as part of any agreement or risk

Their solicitor can access it on behalf of the client.

Your seller should be getting this.
But yes just had one done for a flat sale. The buyer's solicitors rejected one for £180 but accepted one that cost me £250 (took about a week to sort) Apparently the head lease didn't explicitly spell out that the communal areas were, um, communal, even though everyone has enjoyed the gardens, bin stores and bike shed since the original conversion in the 1970s (listed building into 53 flats, so lots of sales have happened since). I'm sure the buyers couldn't care less but the solicitors wanted that box ticked rather than use common sense so paid I did.

For example Countryside legal indemnity £120. for £150k cover Presently.

I'm not sure you'll get one for road maintenance. Why has the road not been adopted by the local council? If its because it wasn't built to standard it could be expensive. My understanding is that that type of insurance is for things that may or not happen but a road will need maintaining.

We had to get one as there is a 130 year old rent charge still on the title deed which we have never had to pay. Cost us £185.00