Home insurance question
 

Just been looking into this and got some quotes,

The policy advises that the excess is £300 odd, reading through the policy and I notice that there is a £5,000 excess for land subsidance/Landslip. Now does this mean that in the event of such an event this £5k would need to be paid to make a claim? or would the deduct £5k from any award that would be made and if the award was less than 5k then you would need to pay from your own pocket?

"H038 INCREASED SUBSIDENCE EXCESS £5,000 We will not pay for the first £5,000 in respect of each and every claim caused by subsidence or heave of the land that the Buildings stand on, or landslip."


Is it worth taking out the legal expense cover or will my motor policy expense cover this. What else do I need to look out for. :thumb:

Thanks

You pay full cost up to £5000 and anything over they pay balance. Like a car damage excess.

Seems quite a high excess unless you live half way up a hill?

Ask Liverpool Victoria for a quote.

dl

Does seem a big excess. Do you live somewhere where there is a lot of subsidence problems? If the house is old, still standing and has no big cracks the the likelihood is decreased anyway (unless your drains etc. are knackered)

As for the legal cover, think that applies to matters relating to the property so for example if the postman trips over something on your drive then you can use this cover to help counter any claim.

Many houses suffer a small amount of settlement, and it may recur on clay soils which expand and contract with the seasons and tree planting or removal.

I think the increased excess is so they don't have to come round and redecorate every time a small crack opens or closes in a wall. Any 'real' subsidence claims will be into significant sums of money.

I have just started for a home insurance company, and they charge £1000 for subsidence, heave or slip, unless the house is under 10 years old as it will be covered by NHBC, therefore the excess would be £100, that would be the same accross the industry.

Legal cover is good if it covers you for things that will affect you, generally car insurance legal cover will cover you for things relating to your car. home insurance legal cover, covers you for most things such as neighbours from hell, also things like contract disputes with builders and plumbers, and even employment disputes. ours is £18 a year, and covers you for upto £50k, not bad for under 5p a day ;)

standard excess' usually start at £50 and go upto £1000 the more you volunteer to pay obviously the less you will pay on the policy.