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Legal Indemnities Insurance Products

When you buy a property there are Insurable risks that are not covered under a Buildings or Contents Insurance Policy.

Legal indemnity insurance is a specific type of insurance policy used in conveyancing transactions where there is some sort of legal defect which cannot be quickly resolved (or in some cases cannot be resolved at all) and which is reasonably unlikely to cause any actual loss but does have the potential to cause a significant loss.

This type of cover requires specialist advice and we are able to discuss your requirements in detail in order to achieve a solution for you.

Listed below are some of the unique covers which your solicitor may advise you to arrange during purchase of a property.

Absence of Easements (Access)

In the event that there is a lack of pedestrian and/or vehicular easements/access and/or easements/access for services to your property there is a policy to provide cover to rectify this. The policy will pay damages or compensation awarded in any proceedings, including costs and expenses; sums paid with the written consent of the Insurer to purchase the easement or an alternative one; loss in market value of the property arising from prevention of the use of the easement.

Chancel Repair

Chancel repair liability is a legal obligation on some property/home owners in England and Wales to pay repairs to the Chancel in the local Parish Church. A Chancel repair liability policy provides cover if church authorities enforce a Chancel Repair Liability against you as owner of a property. The policy cover includes payment of sums which you become legally liable to pay under a court order, loss in market of the property as a consequence of Chancel Repair Liability being successfully enforced against you.

A Property Owners Insurance policy differs greatly to that of a standard Home Insurance and it is important that you receive advice that is specific to your needs and requirements as a Landlord.

Robbie

Property Insurance Specialist

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