Homeowners - check cover if you suspect subsidence
With reports the UK emerged from the driest first six months of the year for eighty years, insurers are no doubt expecting a higher volume of home insurance claims for subsidence. moneysupermarket.com urges homeowners to ensure they are covered for subsidence claims, especially as September and October are reported to be warmer than usual too.
Subsidence occurs when hot weather causes the ground beneath a property to dry out and become unstable; homes with trees nearby are more at risk of subsidence as roots grow in search of water during dry spells, taking moisture from the soil.
With these weather conditions in mind, moneysupermarket.com analysed standard policies from top home insurance providers. It found that while buildings insurance policies are available from as little as £74 a year for a three bedroom semi detached property, homeowners need to be aware of caveats in the small print that relate to subsidence. For example external areas of a property, such as driveways, patios, fences and gates, may not be covered against the effects of subsidence. Furthermore, many providers also have exclusion for incidents relating to coastal or riverbank erosion for example.
Julie Owens, head of home insurance at moneysupermarket.com, said: "With an outlook for above average temperatures for areas of the UK into October, Brits should definitely be on the lookout for tell-tale subsidence signs. It is vital homeowners ensure they have adequate buildings insurance against subsidence; for anyone who is unsure it is important to scour the small print to see exactly what is covered as exclusions and caveats are commonplace.
"The most common sign of subsidence is cracks appearing in a wall, especially around the door and window frames. However, homeowners or buyers should only be alarmed when cracks are wider than a 10p coin, or where the cracks are wider at the top than at the bottom; in those cases though they should alert their insurer immediately to assess the situation. Failing to protect your property adequately is simply not worth the potential costs of damage.
"I urge homeowners to take action immediately and fully update their insurer if there are any signs of subsidence around their home, to get specialist help as soon as possible. If a homeowner finds themselves in a situation where their current insurer won't re-insure them after an episode of subsidence, I recommend approaching a specialist insurer or seeking advice through an insurance broker to go through the options available."
moneysupermarket.com's top tips for subsidence:
What to look out for and steps to take
Most insurance companies will want to look at the development of cracks over time so prepare to be patient with regular inspections
Damaged or leaking drains (which can weaken the ground beneath the foundations) need repairing and trees close to the property should be regularly pruned
Underpinning may be an option where concrete is poured into the foundations to bolster the structure. This should be done by a reputable building company
If you have any work done to your property to reduce the effects of subsidence, keep all receipts and any certificates.
If you are a homebuyer, look carefully for any evidence of subsidence. You can use The Land Registry to research whether houses in the local area have been, or are likely to be, affected by subsidence.