Abi Agreement on Subsidence

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An ABI Agreement on Subsidence Explained

The Association of British Insurers (ABI) Agreement on Subsidence is a written agreement between the insurance industry and property owners regarding the management of subsidence claims. Subsidence is when the ground under a property sinks, causing damage to the building`s structure.

The ABI Agreement on Subsidence was first introduced in 1983 and has been updated several times since then. It sets out a standard procedure for handling subsidence claims, which insurers are obligated to follow.

The agreement requires insurers to appoint a specialist engineer to investigate the cause of subsidence and the extent of the damage. This engineer will then produce a report outlining the necessary repairs and any preventative measures that need to be taken.

The agreement also outlines the responsibilities of property owners in managing subsidence. Property owners are required to maintain their buildings and surrounding land in a way that minimizes the risk of subsidence occurring. They must also cooperate fully with their insurer`s investigations into subsidence claims.

In order to make a claim under the ABI Agreement on Subsidence, property owners must provide their insurer with evidence of the subsidence, including photographs, measurements, and any relevant reports from engineers or surveyors.

If a claim is accepted, the insurer will pay for the cost of repairs and any necessary preventative measures. If the property owner has failed to maintain their property in a way that minimizes the risk of subsidence, they may be responsible for some of the cost of repairs.

The ABI Agreement on Subsidence is an important tool in managing subsidence claims and ensuring that property owners are aware of their responsibilities. By following the standard procedure outlined in the agreement, insurers can ensure that claims are handled fairly and efficiently, and that property owners receive the support they need to repair their properties.

In conclusion, the ABI Agreement on Subsidence provides a clear framework for managing subsidence claims and ensuring that property owners and insurers are aware of their responsibilities. If you are a property owner experiencing subsidence, it is important to understand the agreement and cooperate fully with your insurer`s investigations. By doing so, you can ensure that your claim is handled fairly and that your property is repaired to the highest standards.