Abort insurance

We all hope that the sale on a vendor's property will run smoothly - and usually it does. But sometimes the unexpected happens and that might result in the property having to be taken off the market.

This might mean the estate agent has difficulties recovering the cost of their Home Information Pack, particularly if the pack is due to be paid for out of the proceeds from the sale.

Surehome's Abort Insurance covers the cost of the Home Information Pack so that in the event of the vendor not being able to progress with the sale of their property the pack's costs will be covered by the insurance.

Cover* includes

  • Ill health - long-term hospitalisation or confined to home due to illness or health
  • Involuntary unemployment or redundancy
  • Jury service lasting longer than 30 days
  • Quarantine imposed by health authority or the Government
  • Catastrophic physical damage to vendor's property to include damage by fire, flood, explosion, landslide, aircraft

Cover pays out

  • Claims assessed within 10 days of receipt of all documents
  • Payments made within five working days

Key facts

  • Cover limited to the cost of the sellers pack - maximum limit £2,000
  • Coverage is for 12 months or until the residence is sold (date of completion)
  • A full refund of the policy will be given if the vendor decides not to go ahead with the policy within the first 14 days of agreeing to it. After that no refund is offered.

Policy costs

  • £29.50 Premium which includes 5% Insurance Premium Tax.
  • If the house is unoccupied the rate is increased by an additional £5.25 including 5% Insurance Premium Tax.

Cover excludes

  • Flooding from pipes or internal water tanks or appliances
  • Subsidence
  • Pre-existing medical conditions
  • Events already known about when taking out this insurance e.g. already notified about redundancy or jury service.
  • Conditions relating to family not resident in the property
  • Voluntary winding up of business or redundancy
  • Criminal acts, war, terrorism
  • Simply deciding to take the property off the market for whatever reason such as change of mind or economics

We offer a full complaints procedure including Ombudsman for any disputes over claims.

*Covered even while the property is unoccupied.

This policy is underwritten by Compass Underwriting Ltd, which is authorised and regulated by the Financial Services Authority.

The policy is managed by Allison & Partners, a trading style of Plexstar Insurance Services Ltd, which is authorised and regulated by the Financial Services Authority

Allison & Partners, Insurance Services, Fullbridge House, Fullbridge, Maldon, Essex CM9 4NX. Telephone 01621 841991 Email: info@allisonandpartners.co.uk