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Landlord Insurance Subsidence, landslip and heave cover

Subsidence, landslip and heave cover

So what is subsidence and how does it affect my property/properties?

Subsidence is the downward movement of the site on which a building stands – where the movement is unconnected with the weight of the building. Simply put, the soil beneath the building’s foundations is unstable.

This differs from 'settlement' which can also result in the movement of a building. With 'settlement', the building sinks into the site on which it stands and can be a sign of inadequate design or construction. With subsidence, the downward movement of the site would have occurred without the weight of the building.

What's the difference between subsidence and heave?

Heave is the opposite of subsidence and a much rarer occurrence. Basically heave is when the site on which the building stands moves upwards.

What is landslip?

Landslip is the movement of ground down the side of a mountain or cliff.

When would I need this cover?

If you suspect your property has suffered from any of the above, contact your insurance provider as soon as possible. If the damage is minor and the movement of your property has stopped, then repairs can usually be carried out straight away.

If damage is more serious, then it may take some time to monitor the movement of your property over a period of time and for a long term solution to be agreed upon.

During this time you could possibly experience loss of rental income and may even have to find alternative accommodation for your tenants.

Having the correct landlord insurance in place will help make this worrying time a little less distressing.

Keep in Mind

Online policy is underwritten by RSA Insurance Group PLC.
Insurance covers are subject to the individual terms, conditions and exclusions of the insurer providing them. Always review the policy documentation supplied during the quote process to ensure you have the cover you need.

Other insurance covers available for landlords

Other insurance covers available for landlords
Type of cover	What is covered
Type of cover Buildings	What is covered If your property is damaged and has to be repaired or rebuilt due to an insured event such as vandalism or storms.
Type of cover Landlord's Contents	What is covered Household items that you have provided for your tenants, such as soft furnishings or appliances, if they are damaged or destroyed by an insured event.
Type of cover Loss of Rent	What is covered Your cash flow is protected if, after an insured event such as flood or fire, your tenants stop paying rent or have to move out. If your tenants do have to move out, the costs of arranging alternative accommodation on their behalf is also covered.
Type of cover Accidental Damage	What is covered Accidental damage to the building and its fixtures and fittings. For example, if you or your tenants accidentally smash a window or drop something and crack a sink.
Type of cover Property Owner’s Liability	What is covered You are protected if a person is injured or if there is damage to their property as a result of your negligence.
Type of cover Employers' Liability cover	What is covered You are protected if an employee is injured or dies as a result of your negligence.
Type of cover Legal Expenses	What is covered Your legal expenses in proceedings such as contract disputes, debt recovery and evicting squatters.

Important Information expandable section
Information you'll need to provide

Whether you ask for a landlord insurance quote online (1-5 properties), need advice or have complex requirements (6+ properties), you'll need the following details to hand:

Details of the property/properties to be insured

Any claims you've previously made on the same property/properties

Any security protection at the property/properties

If you're a business, how many employees you have and what kind of work they do.

Keep in mind

Standard home insurance won't cover the extra risks you face as a landlord. For example, if a tenant is injured by a falling roof tile at your property or if a flood means your tenants have to move out for a while at your expense.

The small print

Please check you have all the cover you need by reading the policy documentation carefully (this will be provided during the quoting process).

Important legal information

Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278.

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS).

Telephone calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help us improve our quality of service.

Lloyds Bank plc is an introducer to Arthur J. Gallagher Insurance Brokers Limited who arrange and administer Lloyds Bank Business Insurance Services and source products from a panel of insurers.