House Sellers Insurance
Cover for unrecoverable costs incurred in a failed property sale
A number of unexpected things can happen during the process of selling residential property that could cause the transaction to fail for reasons beyond the vendor’s control. In these circumstances the vendor may have incurred considerable out-of-pocket expenses that cannot be recovered. Our Home Sellers’ Protection insurance or House Sellers Insurance product seeks to provide cover for those expenses.
Home Sellers Policy Documents
Home Sellers Protection Insurance only £50
Benefits of Cover
As standard, this policy provides the following benefits:
- Conveyancing Fees up to £1,650 including VAT
- Maximum duration of the policy is one calendar year
Please refer to the Insurance Product Information Document (IPID) and Policy Wording for full terms and conditions of our Home Sellers Protection Insurance.
What does Home Sellers Protection Insurance cover?
Cover is provided for solicitors’ fees and disbursements that cannot be recovered in the event that:
- The buyer has an adverse search on the property, which either restricts, or is detrimental to a successful transaction
- The buyer’s mortgage lender values the property at less than the amount offered by the buyer (and which you accepted)
- Structural defects are identified in the property and the cost of rectification work exceeds 10% of the amount offered by the buyer (and which you accepted)
- The buyer is diagnosed with a terminal illness, dies, or is given notice of redundancy or relocation, and is unable or unwilling to continue with the purchase
Limits of indemnity
Various limits of indemnity are available.
As a provider of specialist insurance products and services for brokers, affinity groups, motor fleet providers, letting agents and insurers, we are renowned for our innovative and flexible approach in developing and administering bespoke schemes to meet the requirements of our partners. We pride ourselves on our ability to offer flexible solutions.
Claims against our Home Sellers’ Protection insurance products are managed in-house, from first notification of loss through to settlement, by our own claims handlers.
Our Home Sellers’ Protection insurance products are designed to be provided to customers on a standalone basis.
Trading options can include:
- Online trading via our broker platform – VANTAGE CONNECT
- Delegated authority schemes
- Rhino-administered programmes
Related Insurance Products
Home Buyers Insurance
Home Buyers Insurance is provided for conveyancing (solicitors’) fees, mortgage arrangement fees and survey fees up to the limit of indemnity.
A number of unexpected things can happen during the process of purchasing residential property that could cause the transaction to fail for reasons beyond the purchaser’s control. In these circumstances the purchaser may have incurred considerable out-of-pocket expenses on mortgage arrangement fees, survey fees, and/or solicitors’ fees, that cannot be recovered.
Our Home Buyers Insurance product seeks to provide cover for those expenses.