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Subsidence in Cork

  • 18-10-2013 7:31am
    #1
    Realist.
    Registered Users, Registered Users 2 Posts: 9 ✭


    Can anybody clarify the extent of the subsidence issue in Cork? Do insurance companies exclude towns/ areas? Is it expensive to rectify? A family member is buying a new home and is encountering problems with their bank.


Comments

  • #2
    Padraig Mor
    Registered Users, Registered Users 2 Posts: 9,610 ✭✭✭Padraig Mor


    Where? Not sure about the county, but much of the southside of the city is an insurance subsidence blacklist.


  • #3
    Realist.
    Registered Users, Registered Users 2 Posts: 9 ✭Realist.


    Padraig Mor wrote: »
    Where? Not sure about the county, but much of the southside of the city is an insurance subsidence blacklist.

    Thank you for the reply. The area is Blackrock and you are right the insurance company will not insure hence the bank will not advance any monies.

    How do people buy in Cork if you don't have the cash????


  • #4
    pwurple
    Closed Accounts Posts: 12,449 ✭✭✭✭pwurple


    It's only very specific addresses. I live in blackrock, had no problem with either the insurance or the mortgage. I'd be very surprised if we had been asses as a risk for it, as there is feck all topsoil or subsoil where we are before I hit some kind of rocky outcrop when digging in the garden. I thought it was more ballinlough direction, on a couple of streets in particular which had the problem.

    Plenty of the houses affected have already been underpinned, which I assume fixes subsidence in some way.

    There are policies you can get which exclude subsidence cover. Maybe those would be suitable? Call an insurance broker rather than insurers directly. They should have experience of who provides the cover you need. Try Assist Insurance in bishopstown, they are a broker who deals with the area. http://assistinsurances.ie


  • #5
    Realist.
    Registered Users, Registered Users 2 Posts: 9 ✭Realist.


    pwurple wrote: »
    It's only very specific addresses. I live in blackrock, had no problem with either the insurance or the mortgage. I'd be very surprised if we had been asses as a risk for it, as there is feck all topsoil or subsoil where we are before I hit some kind of rocky outcrop when digging in the garden. I thought it was more ballinlough direction, on a couple of streets in particular which had the problem.

    Plenty of the houses affected have already been underpinned, which I assume fixes subsidence in some way.

    There are policies you can get which exclude subsidence cover. Maybe those would be suitable? Call an insurance broker rather than insurers directly. They should have experience of who provides the cover you need. Try Assist Insurance in bishopstown, they are a broker who deals with the area. http://assistinsurances.ie

    Thank you very much for the advice.


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