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Home Insurance/Subsidence

  • 18-01-2010 10:00am
    #1
    dewdrop
    Registered Users, Registered Users 2 Posts: 265 ✭✭


    I gather that large areas of the country affected by subsidence/floods are on an insurance blacklist and companies will not quote for new business in these areas. Wondering when the house market revives how this will affect the sale of houses in these areas. I have in mind a purchaser wil have problems in getting home insurance and the mortgage provider will not release funds unless this is in place


Comments

  • #2
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,286 Mod ✭✭✭✭The_Conductor


    dewdrop wrote: »
    I gather that large areas of the country affected by subsidence/floods are on an insurance blacklist and companies will not quote for new business in these areas. Wondering when the house market revives how this will affect the sale of houses in these areas. I have in mind a purchaser wil have problems in getting home insurance and the mortgage provider will not release funds unless this is in place

    Not necessarily.
    A lot of the insurance blacklists are arbitrary in nature- and have been specified without an accessor ever actually visiting the site.

    When the housing market stabilises (I don't think it will ever recover to figures seen during the boom times), obviously those properties perceived to be 'at risk' may very well be wholly unsaleable. There are already estates and apartment blocks around the country that are going to have to be demolished- an unfortunate heritage of the boom......


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