Insurance

Insurance is a complicated subject and this section of the handbook gives only a brief summary of the arrangements that apply to most of the Council’s leasehold properties. In summary, we insure the buildings, including the structure of the block where you live. You are responsible for insuring the contents of your home and personal belongings- we do not insure these. We send you details of the buildings insurance every year, and send them to new leaseholders on the completion of the sale.  

What is covered?

The buildings insurance policy covers damage caused by:

• fire, smoke, explosion, lightning or earthquake
• riot, civil commotion, malicious damage
• storm or flood
• escape of water or oil
• falling trees or branches or collapse of TV or radio aerials
• theft or attempted theft
• subsidence, ground heave or landslide subject to an excess of £1,000
• terrorism

You are also covered for damage to fixed glass (e.g. windows) and sanitary-ware (e.g. toilet pans).

How much am I insured for?

You have to pay your buildings insurance premium annually. The amount you pay will depend on the valuation of your property, and will be the greatest of:

• The minimum amount that the insurers recommend  
• The amount your mortgage provider requires you to have  
• The amount you request.

Our buildings insurance policy is index linked, which means the amount insured goes up automatically each year in line with rebuilding costs. However if you feel your property is under-insured we can increase the amount if we receive written consent from you. You should regularly review the amount insured and take into account any improvements or alterations that might affect the value of the property. The insured sum should reflect the cost of restoring the property as it was, which may differ from the market value.

If your mortgage company requires a copy of the buildings insurance policy we can provide you with a document summarising the cover.

If you think that the insurance cover provided is unsatisfactory or that the premiums are excessive then you can apply to the leasehold valuation tribunal for a review of the policy.

 Leaving your property empty

Your insurance cover will be affected if your home is empty for more than 30 days at a time. In such instances, you will not be covered for malicious damage, escape of water or theft. If your property will be empty for an extended period, you are advised to let us and the police know how to contact you if necessary and also make arrangements for someone to periodically check on the property.

Home Contents Insurance

Contents insurance provides cover for all of the moveable items that make up your home e.g. furniture, clothing, carpets etc. This type of insurance is completely separate from the buildings insurance mentioned above. There is no obligation for you to have contents insurance, although it is wise to do so.

Making a claim

If you suffer damage and you want to make a claim on the insurance, you should contact the Home Ownership Team on 01452 396555, we will issue you with a claim form which should be returned with estimates for the repairs necessary. This must be returned to us and it will then be forwarded to the insurers for attention. There is no excess on any claim other than for subsidence, which is subject to £1,000 excess.

If you want more information on the insurance policy and cover please contact us on (01452) 39655 or 0800 408 2000.