The primary purpose of building insurance is to protect property
owners from financial losses due to damage to their buildings.
Buildings can be damaged from a variety of events, including
fires, storms, floods, and earthquakes, each posing unique risks
and challenges.
Exclusions and Their Impacts
Policyholders and brokers acting on their behalf must apprise
themselves of the exclusions in their policies to ensure they are
adequately prepared for these risks.
Building damage caused by subsidence or landslip can be
devastatingly expensive to repair. While most people are familiar
with landslips, subsidence is less known; it refers to the gradual
sinking of land which can undermine the structural integrity of
buildings, leading to severe and costly damage.
