Subsidence claims rise 'by half'

12-Apr-2007

In news which may be of interest to recent and would-be first time buyers, the number of insurance claims for subsidence since 2002 has risen by half, research suggests.

According to Halifax Home Insurance, in light of the figures produced by the Association of British Insurers (ABI), homeowners - which may include recent first time buyers - can adopt a number of strategies to help minimise the risk.

In addition to surveying the drainage network within the property, according to Halifax Home Insurance, homeowners can also be aware of the presence of large trees.

"People don't knowingly cause subsidence, but there are ways homeowners can help to reduce the risk of such damage to their home to avoid the costs," said Neil Curling, senior structural claims manager at Halifax Home Insurance.

"[However,] there are several measures homeowners can take … which can go a long way towards avoiding a problem," he added.

According to ABI, in 2006 British insurance companies settled subsidence claims up to a total value of £302 million.

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