All you need to know about our Conveyancing indemnities – the most commonly asked questions
Some of our most popular indemnity products are for conveyancing transactions. And as a leading insurance provider for the legal profession – we get asked numerous questions about our policies, our processes, and what we can offer as insurers.
As it stands, we provide 25 different policies for conveyancing transactions, including No Search Lender, No Search Buyer and Lender, Lack of Planning Permission, Lack of Building Regulations, and Missing Documents. These policies not only offer protection to your clients, but also allow you to thoroughly act in your clients’ best interests. We’re all about making life easier for our legal partners – so here are the answers to our most frequently asked questions. For more information about our conveyancing indemnity products, you can visit the appropriate section of our website.
Are you going to bring on more policies, beyond the 25 already listed?
We have been steadily expanding the range of conveyancing indemnities we offer and based on valuable feedback from our existing clients and partners – we’re in the process of onboarding another 11 policies. This will take our range of available indemnities up to 36 in total. And we won’t necessarily stop there. Because our portal is so easy to use, we’re regularly being asked about new insurance products. We want to provide the very best service to our customers, so if there’s something you’d like to see, please let us know- this will help us understand which products our clients have a regular need for whilst we expand our service range.
How long do your policies last for?
Most of our partners assume that an indemnity policy is held by the individual but this isn’t the case. The policy is actually held by the property meaning in most cases it runs for the lifespan of said property. These policies can also be transferred in line with the property’s sale.
Who pays for the policy?
In most cases, the policy is paid for by the Seller within the transaction. But that does depend on the circumstances and the negotiations. There are cases where the buyer pays, and there are cases where both the buyer and seller contribute to the cost of the policy.
How long does it take to get a quote, and how long does it take to put a policy in place?
If you’re registered for our portal, you can get a quote for a policy in seconds and confirm that policy in a matter of minutes. It really is that easy. One of Prosperity Insurance’s key features that our customers most appreciate is the portal itself. It’s entirely free to register, the process is incredibly simple, and once registered you’ll have all the information about our products, policies, and the ability to receive a quote in mere seconds- removing the time and effort it takes to sufficiently protect your clients.
Who can register?
Our insurance products are suitable for firms of all shapes and sizes. If you’re a lawyer who’s registered with the Solicitors Regulation Authority (SRA), or Licensed Conveyancer registered with the CLC, you can sign up to our portal.
If you’d like to register today, you can do so by getting in touch with Darren Parfitt by emailing him on darren@prosperityinsurance.co.uk or give him a call on 07354 793 802
