Derelict Building Insurance Cover?

Buteo Buteo

[Apologies to mods if this is in the wrong place].

Does anyone know of any insurance company which would provide public indemnity insurance for a derelict building? Most companies I have approached have said they will not cover a derelict building.

Also, if there is more than one owner of a property, do all names have to be on the policy?

Any advice appreciated.

Eggs For Dinner

Buteo Buteo wrote: »

[Apologies to mods if this is in the wrong place].

Does anyone know of any insurance company which would provide public indemnity insurance for a derelict building? Most companies I have approached have said they will not cover a derelict building.

Also, if there is more than one owner of a property, do all names have to be on the policy?

Any advice appreciated.

I don't know who is offering the cover and I would say it is near impossible. Vacant buildings are one thing, but derelict may be uninsurable. As for naming all parties, it would be advisable. A claimant will name all legal owners in any action and the existence of a policy will only protect those whose interest is specified

Victor

Buteo Buteo wrote: »

Does anyone know of any insurance company which would provide public indemnity insurance for a derelict building?

Perhaps ask a broker? Even for a derelict building, other insurance may be required, e.g. you might need a listed building to be insured for reconstruction in case of fire, but obtaining that insurance may be impossible

Also, if there is more than one owner of a property, do all names have to be on the policy?

To insure something, you only have to have an insurable interest, you do not need to own it (outright). Declare the ownership status to the insurer, but let them know what interest you want insured - you or everyone.

Note that if you have a derelict building, the council may come after you to make it safe, secure it and deal with an unsightly condition. They can even tax you on it.

Buteo Buteo

Many thanks to you all for your responses. Most helpful.