What is subsidence insurance?
If the ground beneath your property sinks or collapses, the consequences can be severe. Subsidence can cause extensive structural damage. In extreme circumstances, it could render your rental property unfit for human habitation. This is where subsidence insurance can be crucial.
Subsidence insurance is not a standalone cover. It is included with Hiscox landlords insurance.
What is subsidence?
Subsidence is when the ground beneath a property sinks or collapses, moving the building’s foundation downward.
This can have various consequences, including:
- Cracks in walls and around window or door frames
- Sloping or uneven floors
- Foundation problems.
Common causes of subsidence include:
- Clay soil shrinking and expanding with weather changes
- Tree roots drawing moisture from the soil
- Leaking drains washing away soil
- Poor foundations.
Can landlords insure properties for subsidence?
Landlords insurance can protect you and your tenants against the effects of damage caused by subsidence.
Landlord buildings insurance can cover the cost of rebuilding or repairing buildings at the insured premises following physical loss or damage caused by subsidence, landslip or heave.
This might also include cover for any lost rental income or the costs of your tenant’s alternative accommodation if the buildings are unfit for normal habitation as a result of damage caused by subsidence. Previous history of subsidence may affect your premium, and should be declared when applying for landlords insurance.
Landlords contents insurance is an optional add-on that can cover the cost of repairing or replacing contents following loss or damage caused by subsidence.
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Disclaimer:
Our FAQ pages provide general information and background around the topic covered. FAQ pages are reviewed and monitored periodically by our insurance experts. But the content is not intended to be read as advice and any material is for general information purposes only. If you would like advice for any content, please seek professional assistance.