September 2021
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<strong>September</strong> <strong>2021</strong><br />
27<br />
from the Petty Son & Prestwich blog…<br />
What is indemnity<br />
insurance and do you<br />
really need it?<br />
Buying property is likely to be<br />
the biggest transaction we’ll<br />
ever make, and it’s not entirely<br />
without risk. Naturally, this combination<br />
makes the whole process an incredibly<br />
stressful business… and that’s before<br />
you’ve even thought about packing!<br />
To help alleviate some of the associated anxiety<br />
surrounding a property sale, insurance companies offer<br />
something called property indemnity insurance. These<br />
policies offer protection against a range of risks and you<br />
may be recommended by your conveyancer to take one<br />
out to cover a certain issue.<br />
In the most basic terms, indemnity insurance is protection<br />
against cost associated with issues already flagged up<br />
with a property you are about to purchase. It is, however,<br />
important to remember that such policies do not cover<br />
things such as repairs or replacements. Do you need<br />
indemnity insurance when buying a house? Not always, but<br />
if your conveyancer flags up an issue that could potentially<br />
cost you thousands in the future it would be foolish to<br />
dismiss such policies out of hand.<br />
continue reading at pettyson.co.uk/about-us/our-blog<br />
11 Woodbine Place Wanstead, London E11 2RH<br />
T: 020 8989 2091 E: enquiries@pettyson.co.uk<br />
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