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    • moneypoppy
    • By moneypoppy 11th Jun 17, 9:28 PM
    • 2Posts
    • 1Thanks
    moneypoppy
    Extremely expensive buildings insurance
    • #1
    • 11th Jun 17, 9:28 PM
    Extremely expensive buildings insurance 11th Jun 17 at 9:28 PM
    Hi everyone.
    We have owned our 3-bedroom ex-local flat in London for 10 years. The buildings insurance premium has gone up each year, and is now 5 x higher than when we started. We pay over £900 a year, just for the building's insurance (the other services charges are on top of this!).

    The freeholders agent tells me the reason is that we have had a LOT of claims on the insurnance is due to many claims over the past few years, due to Escape of Water. I do not believe that these are all faulty washing machines or over-flowing baths. I have noticed on numerous occasions that the overflow pipes are overflowing when it rains - becuase the soil stacks are blocked, leaving water to flood the communal walkways. The buidling's management company are clearly not looking after the building properly - despite a huge service charge that we pay. And now that bad management is rearing its head in the form of extortionate insurance bills.
    The freehold agent has told us that they cannot show us quotes for other insurers, since it is the freeholders whole portfoiio insured under one premium, and it would be revealing private 3rd party data. But completely independent buildings impacting each other's insurance seems outrageous no?!
    I'm really not sure what to do about it. Any suggestions?
    Thanks
Page 1
    • dacouch
    • By dacouch 11th Jun 17, 9:53 PM
    • 20,269 Posts
    • 12,513 Thanks
    dacouch
    • #2
    • 11th Jun 17, 9:53 PM
    • #2
    • 11th Jun 17, 9:53 PM
    You would be amazed how frequent escape of water claims from washing machines and bathes are. They would be even more common in a shared social house block.

    The sum insured you require on a flat within a block will also be relatively high as it will include an element of rebuilding the communal areas as well as your actual flat.
    • Mr.Generous
    • By Mr.Generous 11th Jun 17, 10:00 PM
    • 1,677 Posts
    • 2,515 Thanks
    Mr.Generous
    • #3
    • 11th Jun 17, 10:00 PM
    • #3
    • 11th Jun 17, 10:00 PM
    You would be amazed how frequent escape of water claims from washing machines and bathes are. They would be even more common in a shared social house block.

    The sum insured you require on a flat within a block will also be relatively high as it will include an element of rebuilding the communal areas as well as your actual flat.
    Originally posted by dacouch
    And heating system leaks.

    Rainwater system failure usually leads to damp problems before it causes actual flooding. Take some pictures next time the hoppers / gutters / gulleys overflow.
    • eddddy
    • By eddddy 12th Jun 17, 3:34 PM
    • 5,412 Posts
    • 5,070 Thanks
    eddddy
    • #4
    • 12th Jun 17, 3:34 PM
    • #4
    • 12th Jun 17, 3:34 PM
    Just to clarify, you have the legal right to see all the details of the insurance policy, receipts for payment...

    ... which I would assume includes details of claims, how the cost of the policy is split between buildings, leaseholders etc.

    If you believe that the cost of the policy is not 'reasonable' - you can challenge it at a tribunal, if you want.

    (One way to decide whether the cost is reasonable is to use the info you find out, to request quotes from other insurers.)

    Where a service charge consists of or includes an amount payable for insurance, an individual leaseholder or the secretary of a recognised tenants’ association may ask the landlord for a written summary of the policy or an opportunity to inspect and take copies of the policy.

    Link: http://www.lease-advice.org/advice-guide/service-charges-and-other-issues/
    (and scroll down to 7 Insurance.)

    Failure to provide insurance information or reasonable access

    Where a landlord fails without reasonable excuse to comply with either a request for insurance details or to inspect or have copies of the relevant policy or associated documents, they commit a summary offence and are liable for a fine of up to £2,500 (level 4 on the standard scale) on conviction.
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