We look at some of the most common questions posed to our underwriters.
Q: Do I need to obtain a chancel screening search in order to arrange chancel repair insurance?
A: In short; no. Providing no specific liability exists, we can provide chancel repair cover with no need for a search, starting at £35.
Q: Can your policies for developers be extended to cover service/utility providers?
A: Yes. We are able to cover service or utility providers for their abortive or additional costs arising in the event of a claim. These can include the (abortive) installation costs, or the cost of dismantling their equipment and reinstating the property or land back to its previous condition. This could be, for example, removing service media for a development following a third-party landowner refusing to grant a legal easement for the installation and use of the media. However, we will not provide the service or utility provider with cover for loss of projected tariff income.
Q: Since the 13 October changes, will the premium for chancel insurance be higher?
A: As far as policies to provide cover against 'potential liabilities' are concerned, October's changes have not affected our rates, and we have no plans to change them. It's true to say that the cost of insurance where a liability has been registered is higher now than before, but not dramatically.
From an insurer's point of view, where a definite liability is registered against the title, the risk of a claim is heightened. So, it stands to reason that a higher premium may be charged in those circumstances. However, we believe the premiums are still reasonable and affordable, taking into account the extent of the liability.