• Missing Information Policy

    By Guest on 04th Jun 2014

    I am buying a house that comes with a small patch of land at the bottom of the garden under a separate title number. The deeds for this patch of land are missing and my solicitor has provided a quote for a Missing Information insurance policy. The quote is for £330 which seems quite high considering that the patch of land is no larger than 30 square ft.
    We have also been quoted for Restrictive Covenant insurance for the main house and garden (which covers a much larger area than the land at the back). The quote for this was £328.
    The quote of £330 for the Missing Information insurance seems disproportinate. Am I right or is this typical for this type of insurance?

  • 2 Answers

    By Guest on 26/07/2014

    The cost of indemnity insurance is dependent on the limit of cover which is usually the value of the property insured. Presumable the solicitors have obtained missing particulars insurance to value of the whole of the property, not just the land, which is the correct approach.

  • By Guest on 14/08/2020

    It is NOT just based on the limit of cover, that is a little misleading. It also factors in the risk of any adverse claim that could lead to litigation. There is clearly a higher risk in this particular case, hence what is perceived to be a higher premium by the original poster compared to the value of the land. The risk factor is lower in certain types of indemnity cover (such as lack of building regulation consent).

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