Resolved Question
Buildings Insurance - do I have a right to ask for a breakdown?
Hi there!!
I need some advice!
I am a leaseholder in a block of 6 flats (including mine). Last year my Buildings Insurance bill was £222.65 which covered September 2008 - September 2009.
Just before Christmas I received my Buildings Insurance bill which covers October 2009 to October 2010 and it has gone up to £349.98. Thats an increase of over £100 in just 1 year.
Considering there are 5 other flats, and I am assuming the other flats have had an increase in their buildings insurance too, that is an increase overall of approximately £600 in our Buildings Insurance.
I have received nothing with my bill explaining the reason for the large increase or proof that a cheaper quote could not be found.
After reading some forums, I understand that if one flat is bigger than another, the bigger flat should be paying a higher buildings insuance premium - is this correct? I know for certain that at least 2 of the flats are bigger than mine. I have a very small 1 bed flat.
Do I have a right to ask the Managing Agents for a breakdown of the Buildings Insurance and how it is split between all the flats? Do I also have a right to demand to know why it has gone up over a £100 and contest this?
My Managing Agents are a nightmare and always send my account off to the Property Debt Collection agency whilst I am trying to contest a charge - I have had serious issues with them since moving on over 2 years ago.
Therefore I want to make sure what my rights are before I send them an email asking for details on the Buildings Insurance.
Can anyone give me some advice?
Thank you so much!
I need some advice!
I am a leaseholder in a block of 6 flats (including mine). Last year my Buildings Insurance bill was £222.65 which covered September 2008 - September 2009.
Just before Christmas I received my Buildings Insurance bill which covers October 2009 to October 2010 and it has gone up to £349.98. Thats an increase of over £100 in just 1 year.
Considering there are 5 other flats, and I am assuming the other flats have had an increase in their buildings insurance too, that is an increase overall of approximately £600 in our Buildings Insurance.
I have received nothing with my bill explaining the reason for the large increase or proof that a cheaper quote could not be found.
After reading some forums, I understand that if one flat is bigger than another, the bigger flat should be paying a higher buildings insuance premium - is this correct? I know for certain that at least 2 of the flats are bigger than mine. I have a very small 1 bed flat.
Do I have a right to ask the Managing Agents for a breakdown of the Buildings Insurance and how it is split between all the flats? Do I also have a right to demand to know why it has gone up over a £100 and contest this?
My Managing Agents are a nightmare and always send my account off to the Property Debt Collection agency whilst I am trying to contest a charge - I have had serious issues with them since moving on over 2 years ago.
Therefore I want to make sure what my rights are before I send them an email asking for details on the Buildings Insurance.
Can anyone give me some advice?
Thank you so much!
Best Answer - Chosen by Voters
Most people in leasehold flats form their own Management Agency to take over the administration of the buildings
They do this because the Builders own 'Management Agency' typically RIP YOU OFF for everything from (un)necessary repairs, to grass (non)cutting to insurance ..... they are EXACTLY like Local (and central) Government - unaccountable bodies who extract money (Tax) and squander it in anyway that takes their fancy ... (you know why Local Councils lost multi-millions in Icelandic banks ??? because they had extracted so much unnecessary Council Tax that they could hold millions of ££'s of their ratepayers money 'in Reserve' = a habit that a lot of Management Agencies also have ..)
Unfortunately, it's a fact of life == either you manage your own financial affairs OR you get ripped off big time .. if the other Leaseholders are not interested, you had better start looking to move (& next time avoid Leasehold like the plague it is)
They do this because the Builders own 'Management Agency' typically RIP YOU OFF for everything from (un)necessary repairs, to grass (non)cutting to insurance ..... they are EXACTLY like Local (and central) Government - unaccountable bodies who extract money (Tax) and squander it in anyway that takes their fancy ... (you know why Local Councils lost multi-millions in Icelandic banks ??? because they had extracted so much unnecessary Council Tax that they could hold millions of ££'s of their ratepayers money 'in Reserve' = a habit that a lot of Management Agencies also have ..)
Unfortunately, it's a fact of life == either you manage your own financial affairs OR you get ripped off big time .. if the other Leaseholders are not interested, you had better start looking to move (& next time avoid Leasehold like the plague it is)
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