Insurance with subsidence

[Subsidencewoe]

We’ve had an ongoing subsidence issue going on for years and still not sorted. Obviously our premiums are now eye-wateringly expensive. When the issue is finally sorted (hopefully this century), will our premiums be slightly less crippling? Anyone been in a similar boat?

No unfortunately not
same you will have to declare the property has a recent history of extensive subsidence

The issue with subsidence is that even with underpinning…. The property is still vulnerable

You aren’t planning on selling are you?

Are you still with the same insurer?

On the general market, so like price comparison website type brokers it's likely to remain expensive even with the work simply because the house is deemed a higher risk.

Go to a proper broker that offers advice, the BIBA website has a directory of brokers and will be able to point you to a subsidence specialist. They'll be able to find you better policies than you'd be able to find yourself.

Yes, I have been in this situation twice.
You need some professional advice. They can not penalise you for this unless you they can prove you caused the problem.
They have a duty to insure your property at a fair and standard premium now ( you obviously can’t move until it’s resolved) and in the future, and to any new owner.

I'm 7 years down the line from my claim and my premium has reduced. It's not quite on the level of a normal premium, but only about £100 p/a more.
I use a specialist broker who were very good. PM me if you want their details.

I’m in a flat so it’s through the freeholder. The issue started before the pandemic and is still not sorted! We don’t have input into the insurance company used - thought we had to stay with the same company until the work is done at least?

@Tortephantthank you. Sorry to hear you’ve been through it twice! Who should I get advice from? Insurance won’t speak to me, they’ll only speak to the freeholder. The freeholder is hard to get hold of (putting it mildly).

@MadMunchkin we are seven years on and work hasn’t even started. There’s not even a schedule of works yet. As it’s a live claim, we are paying 2.5k for buildings insurance between three small flats. How do I PM on here (iPhone mobile app)? I could call them and see what they say and suggest to freeholder he uses them.

I think you and the other flat owners would be best engaging a solicitor OP.

They are called Orwell Insurance Services
www.oisonline.co.uk
Tel: 01473 292805

What’s causing the subsidence - Drains, water leak, Tree, something else? If it’s a tree who is responsible for it? Are you in a clay soil area?

Are any of the other flats long term vacant? Is your freeholder the council, a management Co or an individual?

In this case you probably need to speak to a solicitor about your cruddy freeholder and I’d also write to your MP and local councillors to complain/ask for help.

Depending on the cause you might be able to apply pressure elsewhere too.