Claiming on Indemnity Policy – Anyone with experience claiming?

^woody^ said:

Thats a bit different to buyng insurance in the context of this thread

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True but from the mortgage company's point of view either is an unacceptable defect in the title. They just want to move the risk to someone else as they can't assess it.
The insurance co is the expert in risk, and if the risk is low they'll insure, if high, they won't, so the deal is off. aka the house is unmortgageable.

^woody^ said:

They can't make you do anything - they work for you.

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Well true but it works both ways, you can't make them work for you, and in fact they can (and must) declare the conflict of interest and stop working.

When the policy was discussed at the solicitors at the time the impression I was given is that should the work not meet building regulations it would be covered financially to retrospectively rectify/rebuild to the correct standard and then signed off by building control. I didn't question it, and the vendor was paying. But should I have thought about it a little more at the time I could have asked for clarification.

If as suggested this cover is just for the off chance building control may do an inspection and deem inadequate this just seems so unrealistic this would actually happen in these specific circumstances, especially with the mention of why the 12 month clause is added. An utter waste of money.

Also with the nature of the defects you could not inspect without pulling the ceiling down or cutting holes in it.

vards01 said:

An utter waste of money

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sadly so

It doesn't comply until someone authorised to say so, says it does comply. So an insurance covering the fact that unapproved work might doesn't comply would be like life insurance for a dead person on the off chance he's not dead and actually feeling a lot better after all.

It protects you from the cost of being forced to make it comply as a result of building control enforcement. Which is why these policies don't cost much.

Anyway I think your claim against the vendor would be out of time.