01625 919470

  • Macclesfield, United Kingdom
  • 01625 919470

Distressed Property Risks

Distressed Property Risks

Distressed or high risk property insurance has become a real issue for residential and commercial property owners in recent years.
With insurance premiums soaring, and some underwriters withdrawing cover, getting insurance cover for distressed properties has become a real challenge in recent years.
PHP Insurance have a team of experts in distressed property insurance and access to a panel of UK based underwriters with an appetite and understanding of that type of risk.
Whether  you are a building owner, a property manager or management committee, we are here to help.
PHP Insurance are specialists in risk management and distressed property insurance.
We also have an in-house claims team who completely understand what is a niche and unusual market, so are here to help mitigate your risks before policy inception and to help you deal with the insurers if you do have to make a claim.

Residential high risk property insurance:

  • Thatched roofs
  • Subsidence
  • Underpinned property
  • Flood Risk

Commercial high risk property insurance:

  • Cladding issues / high rise apartments
  • Timber cladding and timber balconies
  • Compartmentation and fire protection

Frequently Asked Questions

Simply put, distressed risks in property insurance are properties that are outside of the norm and therefore presenting more risk and financial exposure to an insurer in the event of a claim. The horror of the Grenfell Tower fire tragedy back in 2017 was a terrible and horrific example of this – alongside for example lots of severe UK floods in recent years – meaning that distressed risks are more expensive and harder to insure today than ever before.

Strictly speaking no, but vacant properties do come with their own insurance challenges. Insurers generally see vacant properties – especially vacant commercial properties that have been unoccupied for more than 30 days – as higher risk because no-one is around day-to-day for maintenance, upkeep and to act as a deterrent to crime. PHP Insurance have access to vacant property underwriters and also employ our own risk management services to ensure a multitude of factors are considered.

Both. A distressed risk policy can be a single property policy or this can be a property portfolio with multiple properties covered. This is common for commercial property owners who have a number of commercial properties with their own distressed risks and these properties can be covered all on one policy. If the distressed risk is remedied during the policy, this can be reflected in the insurance premium at renewal.