Search Indemnity

Search Indemnity

In what circumstances is cover required?

Search Indemnity is available where a Property is being purchased and one or more official searches, being a Local Land Charges Search, Local Authority Search, Drainage Search, Mining or Mineral Search, are not being applied for or have been applied for but the results will not be available in time to complete a transaction.

Cover is available to purchasers and mortgagees or mortgagees only.

Product Features:

Risks covered: adverse difference in market value, cost of settling out of court and other costs and expenses arising out of matters that would have been revealed had the searches been undertaken or received prior to completion of a transaction.

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 searches for which cover is required
  • Type of cover, i.e. no search, search delay or search validation

 

For further information about Search Indemnity indemnity insurance or to get a quote, call our team on 0845 557 0845 (local call rate) or 01293 880700 or email us at enquiries@lawsureinsurance.co.uk