Party Wall Insurance
Background:
Where an extension or alteration to a property is being undertaken that will involve alterations to the support required from a shared or Party Wall, the permission of the other party owning the wall should be obtained before the changes take place and the documentation relating to relevant permissions under the Party Wall Act will be required by a subsequent purchaser. Where relevant permissions were not obtained or the documentation has been lost an insurance can be effected.
In what circumstances is cover required?
Where an alteration to a property has been undertaken which should have required the consent of an adjoining owner under the Party Wall Act but no such permission was obtained or the relevant documentation cannot be found.
Product features:
Risks covered: reduction in value of the property together with costs and expenses.
Information needed:
- Property address
- Property value (or developed value in the event that development is to take place)
- Use of the Property – both current and intended (if a change of use or development is intended)
- Details of the work undertaken
- Completion date of works
- Details of any communication with adjoining property owner
For further information about party wall indemnity insurance or to get a quote, call our team on 0345 557 0845 or 01293 880700 or email us at enquiries@lawsureinsurance.co.uk or use the online chat at the bottom right of the page.