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.