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Old 5 May 21, 07:52 PM  
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sunjue100
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Anyone advise re house insurance for a house purchase

Ds is buying his first home . He’s just got his searches back and there is one query re previous coal mining .

The report says
Past underground coal mining
Potential risk due to past underground coal mining has been identified within the boundary of the property. Whilst no further searches are required, it should be noted that in the event of coal mining settlement or subsidence occurring the property will benefit from the protection of the Coal Mining Subsidence Acts of 1991 and as amended 1994.

The property lies within the potential zone of influence of recorded workings in 2 seam(s) of coal. The most recent underground working in the area was in 1940. These workings lie between 60 metres and 90 metres. Any ground movement due to this coal mining activity should have stopped.
The property is indicated to lie in an area where coal deposits have been worked at shallow depth in the past but for which no plan exists.

Anyone know if this will affect his house insurance ?
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Old 5 May 21, 08:21 PM  
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mitch84
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Do a couple of draft quotes off the meerkat etc but I shouldn’t think so, we are technically in a flood risk area but our buildings and contents insurance is under £100 a year
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Old 5 May 21, 08:36 PM  
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not sure if the comparison websites will cater for this. I deal with property finance and I would actually make some calls to a couple of insurance companies to get their take on it as well. It sounds like you will be extremely unlucky for anything to happen, but if it does, and an insurance company finds out your were aware of the situation, (as it has cropped up on the searches) they could use that not to pay out. in my experience, always best to have the right cover in place rather than risk it...
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Old 5 May 21, 08:44 PM  
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sunjue100
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Originally Posted by buzzbuzz View Post
not sure if the comparison websites will cater for this. I deal with property finance and I would actually make some calls to a couple of insurance companies to get their take on it as well. It sounds like you will be extremely unlucky for anything to happen, but if it does, and an insurance company finds out your were aware of the situation, (as it has cropped up on the searches) they could use that not to pay out. in my experience, always best to have the right cover in place rather than risk it...
There is an insurance in place underwritten by Zurich if there are any changes from the report which is attached to the search document.

From the solicitors search report

Due to the location of your property we were required to carry out an additional coal search. You will note that the coal report is accompanied by insurance to protect you against any loss in property value which may occur from any change in information detailed within the Report, please consider the report carefully and contact your surveyor should you require any further information.
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Old 5 May 21, 09:25 PM  
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It won’t affect insurance or rather will already be priced in due to location. As with all insurance all underwriting questions should be answered honestly and if there is any question about any other material matters to disclose I would add it although as I say I would expect it to be in the insurers underlying data. The same is true with other matters which is why your postcode can affect the price you pay for a range of products.
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Old 5 May 21, 10:56 PM  
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Originally Posted by sunjue100 View Post
There is an insurance in place underwritten by Zurich if there are any changes from the report which is attached to the search document.

From the solicitors search report

Due to the location of your property we were required to carry out an additional coal search. You will note that the coal report is accompanied by insurance to protect you against any loss in property value which may occur from any change in information detailed within the Report, please consider the report carefully and contact your surveyor should you require any further information.

The thing I would question here is the part that says "protect you against in any loss in the property value". That to me says that if the home is initially valued at £150K and later someone does a survey and states "Oh it's now £120K due to the coal stuff" (dead professional, I know) then the report means you can go back and say "actually, that's not the case, give me my £30K value".
It does not however say to me "If an incident occurs and it is determined to be the result of the coal stuff, insurance will pay out".

I may be paranoid though.
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Old 5 May 21, 11:04 PM  
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Originally Posted by Wee_Red View Post
The thing I would question here is the part that says "protect you against in any loss in the property value". That to me says that if the home is initially valued at £150K and later someone does a survey and states "Oh it's now £120K due to the coal stuff" (dead professional, I know) then the report means you can go back and say "actually, that's not the case, give me my £30K value".
It does not however say to me "If an incident occurs and it is determined to be the result of the coal stuff, insurance will pay out".

I may be paranoid though.
Yeah that insurance is just for loss in value if the search is wrong (I.e negligence of the provider). The subsidence acts provide some coverage on coal related subsidence claims.
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