Buildings Insurance on my Leasehold Flat

56York14

When my insurance came up for renewal in March of this year I thought I would try to see if I could get a cheaper policy which I did - much cheaper. The brokers (Coppergate) had telephoned me regarding renewal and I told them I was shopping around. In April I got a letter from Coppergate asking me to renew so I emailed them and told them that I had found a cheaper policy and would not be renewing through them. This was on 7 May 2015. On 23 June I received a bill from the company who act on behalf of the freeholders (Alan Mattey Group). I wrote to them on 2 July asking what the bill was for but got no reply. On 25 November I got a letter from them saying that as I had not paid the insurance premium they had paid it and therefore I owed them the money. I wrote to them on 27 November explaining that I had renewed the policy and that I had informed the brokers of that back in May. What I had forgotten was that I am supposed to insure through Coppergate as they are Alan Mattey's nominated company. I apologised and admitted that this was my error and asked what I should do given that I had a policy and it was in force and at this stage has only a few months left before expiry. They sent me a list of criteria my policy should meet which I referred to the underwriters and they have informed me that regretfully my policy does not meet all the criteria specified by Alan Mattey. I have emailed Coppergate (twice) and written and (today) faxed Alan Mattey to tell them this and to ask when I should cancel as I don't want to insure twice and also don't want to cancel and find myself un-insured but I don't know how much I needed to pay for the remainder of the insurance period (it runs 25/3/15 to 24/3/16). I am getting no response and today another reminder arrived (hence the fax).
Can anyone offer me advice on what to do next?

Quentin

56York14 wrote: »

.. I thought I would try to see if I could get a cheaper policy which I did - much cheaper. .... On 23 June I received a bill from the company who act on behalf of the freeholders (Alan Mattey Group). I wrote to them on 2 July asking what the bill was for but got no reply. On 25 November I got a letter from them saying that as I had not paid the insurance premium they had paid it and therefore I owed them the money.....

You look to have 2 policies in force.

Cancel the one that isn't acceptable to Alan Mattey.

cattie

It is no doubt a term of the lease that you need to have buildings cover arranged by managing agents, on behalf of freeholder, which is perfectly normal.

As you have been told that the insurance you've taken out yourself does not carry the required sufficient cover, then that is the one that needs to be cancelled. However, as most insurance policies are for a set term, ie 12 months, there might not actually be any monies refunded & if they are it could be that an administration charge will be levied. That said, some insurance companies can be quite understanding if it's explained to them that there have actually been 2 policies in force due to an oversight/misunderstanding & will revoke the policy & refund the premiums paid.

Your best way forward is to pay what is owed to the managing agents for 'their' policy & sort out cancellation & any refund you might have due from 'your' insurance co.

chris_m

cattie wrote: »

Your best way forward is to pay what is owed to the managing agents for 'their' policy & sort out cancellation & any refund you might have due from 'your' insurance co.

It looks to me more like the freeholder and/or managing agent dictate which insurer the OP (presumably jointly with the other leaseholders) must use, then expect the leaseholders to actually take out the policy.

Otherwise, why would the broker have contacted a leaseholder at all?