Making an insurance claim on buildings: any advice?

Posted by Anonymous PM | on Tue, 16/03/2010 - 16:32 310 3 comments | report

3 years ago, I bought a small office building for my business.I had a survey done. The property is 20 years old and got a clean bill of health. I am now selling the building, and have a potential buyer. He got a survey done, and his surveyor has listed a number of problems with the structure, and the lender requires £42k 'repairs' to be carried out before they will lend. Incidentally, none of these problems is visible to the layperson!

There is no point in suing my surveyor, and the insurer says the repairs are not covered by my policy even though I have comprehensive cover, including for heave and subsidence. Should I pay up myself for the repairs? Or should I employ perhaps a loss adjuster to pursue my claim?

Comments

Buy on an apple?

pawncob | Wed, 17/03/2010 - 20:55 | Permalink

Well if you were buying the property, wouldn't you attempt to negotiate the price downwards?

Tell him to go forth and multiply. (Next thing you know he'll be reducing the agreed price ten minutes before completion.

Talk to a loss adjuster

paulwakefield1 | Thu, 18/03/2010 - 09:02 | Permalink

I do not think we have sufficient information to comment. Even if we did, we are probably not best placed to advise. This is an insurance issue and you should seek specialist advice - talk to your broker (if you have one) or a loss adjuster.

So much will depend on the nature of the issues and your policy. Gradually operating causes are normally excluded; pre existing conditions may be excluded. What reasons have they given for the issues not being covered? Why do you feel your surveyor has no liability?

Loss adjusters

Anonymous | Fri, 19/03/2010 - 10:08 | Permalink

Thanks for the advice. I have been told that a lot of loss adjusters take your money and do a poor job. Any idea of how to find a reliable one?