Spotlight on… Mineral Rights
February 22, 2024
Spotlight on…
Mineral Rights
The Mineral Rights legal indemnity insurance policy provides cover for an existing single residential dwelling and/or any commercial or business premises, where the title deeds or Land Registry entries indicate mineral rights have been granted or reserved prior to the Commencement Date to which the property remains subject but which are not apparent and have not been exercised during the current owner’s period of occupation.
The policy covers claims arising from a third party attempting to establish that the mineral rights can be enforced over or across the property.
What is insured?
- The Insured named on the Policy Schedule & all successors in title.
- The Policy provides inflation cover (increasing the Limit of Indemnity by 5% per annum for 10 years from the Commencement Date).
- The Policy also provides additional comfort for Mortgagees, Successors in Title and Genuine Purchasers under the Non-Invalidation Clause.
- The cover provided is: Loss sustained in the event of any claimant establishing or attempting to establish on or after Commencement Date, Mineral Rights on the Property.
For full terms, please see the Policy.
Additional information on Mineral Rights:
- Premiums from £105.00 incl. IPT
- ‘Instant’ cover for residential and commercial properties
- This policy will run in perpetuity
- Up to £3m limit of indemnity
- Comprehensive cover including automatic 5% inflation clause per annum for 10 years
- Electronic policies
- Monthly statement and numerous payment options
- LOI can be increased at any point using our top-up policy
- BACS and cheques accepted
Click here to read the IPID
How can you obtain cover?
This policy can be issued using GCS Online, GCS Pack or GCS Bespoke and/or Direct.
If you’d like to issue this policy INSTANTLY through GCS Online, you can register for an account or log in.
To get a Bespoke quote, you can either send an email to underwriters@gcs-title.co.uk or call 01435 868050.
If you’d like to issue using a GCS Pack, you can order one here.
Or if you’d like us to issue this Direct from our office for you – please call 01435 868050.