Aug
31

Subsidence claims likely to rise


The heatwave is finally over and we are back to good old UK weather, but a consequence of the long dry summer is that there are likely to be a rise in subsidence claims over the coming months. Subsidence is known to increase during hot, dry weather, particularly in areas with clay soil and this summer certainly fits the bill. 

For insurers subsidence only really became part of domestic policies in the 70's at the request of mortgage companies and thought to be low risk. Then came the summer of 1976, that saw many properties affected by subsidence  caused by clay shrinkage. An unexpected and expensive event for insurers. The last heatwave in 2003 resulted in a four-fold increase in subsidence pay outs. 

For those of us in clay soil areas, we will be keeping and eye on our walls...


Read more here.