Resolved Question

Underpinning and Insurance?

We are currently trying to purchase a house that had underpinning 10 years ago. The survey confirms it has been done well and that there is no further movement. We are struggling to get insurance at the mo. Is it a legal requirement that the current insurer has to continue the insurance with the new owner or merely an unwritten rule?

Best Answer - Chosen by Asker

No the insurance stops when the owner changes. It is not mandatory for the insurance company to continue with the coverage. However, if the home has been a good risk than normally the insurance company will not deny coverage against the new owner, provided the insurance company is satisfied with the other Aspects like claims history of the new owner is good

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Other Answers (2)

• The current policy is owned by the current owner. It is not transferable.
• No. The Insurance stops with the old owner. You have to start again.