Building Insurance
Leaseholders Building Insurance
As a condition of your lease, North Hertfordshire Homes provides leaseholders with building insurance cover. This cost is recovered through your annual Service Charge. You may be offered insurance by your mortgage provider, however, you should advise them that your building insurance is provided by your freeholder.
What Does the Building Insurance Cover?
The policy insures the building in which you live up to the reinstatement value of your home. It does not insure the contents of your home, this will remain your responsibility. Details of the cover is sent to you at the beginning of April each year.
Is There an ‘Excess’ Payable?
For most claims there is an excess to be paid, claims for storms, flood, burst pipes, accidental and water damage have an excess of the first £250 of any claim and, in the case of subsidence, the excess is £2,500.00. Should you need to make a claim please contact Acumus on 0870 942 0306.
How do I Obtain a Copy of the Building Insurance Cover?
Every year we will send you a schedule of your insurance cover. This will cover the period up to the end of the next financial year.
What Happens if I Sell My Home?
When the property is sold under the Right to Buy the lease stipulates that it must be insured by the freeholders with the leaseholders paying the appropriate cost. If you sell the property the new owner is insured under this policy once the contracts have been exchanged.
If you suffer damage to your home which be could be covered under the block policy arranged through North Hertfordshire Homes Ltd on your behalf please ring Acumus on 0870 942 0306 for advice during normal hours.
Acumus will ask you to describe the damage, how and when it happened and assess with you the potential cost.
If the damage is minor, you will be provided with a claim form, which includes brief guidelines on the claims process. You will be requested to obtain two estimates for repairing the damage.
If the damage is serious or prevents you carrying out your day to day living then Acumus will appoint a Loss Adjuster to contact you. The loss adjuster will inspect the damage and arrange for repairs and, if necessary, alternative accommodation if your home is uninhabitable.
If you discover serious damage to your property outside normal office hours, please contact your nominated Loss Adjuster AMG on their Emergency Number 0131 654 5444.
You simply need to advise the name of the Housing Association and that cover is arranged by Acumus and the Loss Adjusters will advise and assist you. You should only make direct contact with a Loss Adjuster should your property be uninhabitable i.e. loss of lighting or heating to property insured or loss of cooking, washing, toilet or sleeping facilities.
In the event that the Loss Adjuster is your first contact, Acumus will receive details from the Adjusters during the next working day and will contact you to make sure you are receiving the assistance you need.
In an emergency you should take any immediate action which you need to in order to protect your property from further damage, such as boarding up or switching off gas, water or electricity.
Guidance Notes
1. Complete the claim form.
2. Obtain two competitive written estimates in respect of the repairs required.
3. Forward the form to Acumus for consideration under the terms of the policy.
4. If your claim is accepted Acumus will write to you to confirm that you may proceed with the repairs.
5. Upon completion of repairs please forward the final invoice to Acumus confirming you are satisfied with the repairs and to whom the settlement cheque should be made payable to.
6. Upon receipt, Acumus will arrange for settlement to be issued.
Please note that for a claim to be considered the damage must have occurred within the policy period and have been caused by an event the policy covers e.g. fire, water, storm, theft etc. Refer to your policy summary for details of insured events.
Any settlement will be subject to the deduction of any applicable policy excess.
