Buildings insurance
The Council does not currently offer block buildings insurance as part of its factoring services. The Council is insured for all risks, but this only covers risks arising from the Council’s own flats or its share of any risks arising within the common areas and specifically excludes risks from all other flats or their share to common areas.
In terms of section 18 of the 2004 Act all homeowners are obliged to ensure their property is adequately insured to cover full reinstatement costs of the building including common areas. It is essential each homeowner has the necessary cover within their insurance policy to protect not only their own flat but also their share of the common areas in the event of a claim being made. Any homeowner may, by notice in writing, request the homeowner of any other property in the tenement to produce evidence of
- the policy in respect of any contract of insurance which the homeowner of that property is required to have
- payment of the premium for any such policy
Consequently, the Council may require to see copies of your buildings insurance policy. Upon request you have 14 days to produce the relevant documentation.