Ex council flat.. Building insurance. Have I been overvalued?

nobbysn*ts

FlameCloud wrote: »

You need to bear in mind that a lot of councils will not insure their flats - they will self insure up to a (very) large amount and then have a policy above this limit. I've seen several councils that we deal with simply base the contributions each flat makes off of the value of the premises rather than rebuild.

Doesn't make it legal though, if they decide not to be competitive, and then decide to misrepresent how they cost the process.

FlameCloud

nobbysn*ts wrote: »

Doesn't make it legal though, if they decide not to be competitive, and then decide to misrepresent how they cost the process.

But you said they are obliged to tender for it - what would they tender? How? The costs dont go outside of their own organisation so who and how would they benchmark the price?

492800

FlameCloud wrote: »

You need to bear in mind that a lot of councils will not insure their flats -

The paperwork/pamphlet says we will be insured by NIG.

nobbysn*ts

FlameCloud wrote: »

But you said they are obliged to tender for it - what would they tender? How? The costs dont go outside of their own organisation so who and how would they benchmark the price?

Because if the cost to self insure is more expensive, they're not doing what we voted them in to, which was to manage the council efficiently. They can't simply decide to chuck the rule book out, the benchmark is the cost to do it correctly.

492800

I'd hate to say it, but with Lambeth, the words, cost and efficiency do NOT go together.

dacouch

492800 wrote: »

I'd hate to say it, but with Lambeth, the words, cost and efficiency do NOT go together.

Except when it comes to parking tickets

nobbysn*ts

492800 wrote: »

I'd hate to say it, but with Lambeth, the words, cost and efficiency do NOT go together.

Lambeth councils problem, not the op's.

492800

nobbysn*ts wrote: »

Lambeth councils problem, not the op's.

Since I'll be the one forking out extra thousands££ over the next 4 years for Lambeths uselessness, sadly, I'd say it is one of my problems.

dacouch

492800 wrote: »

Since I'll be the one forking out extra thousands££ over the next 4 years for Lambeths uselessness, sadly, I'd say it is one of my problems.

As I keep pointing out £320 for a flat situated in centralish London which is a high crime area and an area prone to subsidence is about the going rate for flat insurance.

There's a very good chance one or more of the flats have made a claim or claims on the Building Policy, being a flat probably for escape of water eg a leaking washing machine

nobbysn*ts

492800 wrote: »

Since I'll be the one forking out extra thousands££ over the next 4 years for Lambeths uselessness, sadly, I'd say it is one of my problems.

If you accept that, fair enough. If you don't challenge it.