What Is Subsidence and Landslip Cover?

When buying home insurance most people concentrate on risks such as theft, fire, and extreme weather conditions, but you may also want to include subsidence and landslip. Here are a few things you need to know about home insurance subsidence cover.

What Is Subsidence?

Subsidence is when the ground beneath a property gradually sinks, pulling your property’s foundation down with it. This imbalance puts stress on the structure of your house, causing cracks on the walls and floors. It could also potentially destabilise the construction of your property. Subsidence is caused by a range of things such as:

• Clay shrinkage
• Water washing away soil beneath the property
• Trees growing close to the foundation
• Formation of underground caverns
• Used and disused mines
• Poor foundations

What is a landslip?

Landslip is the sudden sliding of a large mass of soil or rocks down the side of a cliff or mountain. It is caused by disturbances in the natural stability of a slope.

If you suspect that your property is at the risk of subsidence or a landslip, it is crucial that you take an insurance policy out as soon as possible. If the damage is minimal and the movement of your property has stopped, repairs can be done straight away. However, if the damage is extensive, your property will have to be monitored for a while before a solution is found. During this period, you may be required to evacuate your tenants, which means that you risk losing rental income. Having the right buildings insurance subsidence cover will come in handy during this challenging time, so check your policy to ensure that your building has adequate insurance protection. Most home insurance policies provide minimal cover, if any, for subsidence and landslip unless you specifically ask for house insurance subsidence cover. Here are two types of insurance that cover subsidence and landslip.

1. Buildings

This policy protects your property in case it is damaged and has to be repaired or rebuilt. It covers damage caused by fire, vandalism, subsidence, and weather events such as storms, floods, etc. When buying this policy, ensure that it comes with inflation protection. This feature provides an increase in the value of benefits due to the rise of inflation over time.

2. Accidental damage

Landlord accidental damage cover protects you against the cost of damages caused by an insured event such as storms, landslips, subsidence, vandalism, etc. It covers household items such as appliances and soft furnishings provided to your tenants.

To protect yourself against landslip and subsidence, contact us today to explore your insurance policy options.

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