Block Insurance Policy
BAM Estate insures the Buildings and land of the Estate with Aspen Insurance UK Ltd. The Policy Number is UKA3ET2120PH, and a copy of the Policy and Schedule can be downloaded here:
The policy is renewable on the 22nd June each year. The Insurance premium for the year 2018 to 2019 is £64,838.20 (inclusive of Insurance Premium Tax and finance charges) which is paid in ten instalments from June through to March.
The cost is recovered from Leaseholders as part of the Service Charge.
The Block Insurance Policy does not include cover for the contents of each individual flat, and each leaseholder is strongly advised to take out their own Contents Insurance.
Leaseholders should also check their Contents Insurance Policy to ensure that it provides cover against the cost of making good any damage to their neighbours property due to water escaping from any pipes or appliances for which they are responsible, as a claim can be made against them. Such cover is usually to be found in the policy under a heading like ‘Occupiers personal liability’.
Leaseholders must also ensure that any contractor they have working in their flat, or any sub-tenant they may have, is also fully insured, as the leaseholder is liable for any damage they may cause.
What to do in the event of a claim...
1. Minor incidents should be reported to the Estate Office within 7 days.
2. Major incidents should be reported AS SOON AS POSSIBLE.
3. Once a claim has occurred you should take measures to protect your property i.e.
a) Make the property secure
b) Make the property weatherproof
c) Make the property safe for yourself and members of the public. This will involve emergency/temporary repairs.
4. For claims involving minor damage, your insurers would expect you to obtain TWO alternative repair estimates and submit a completed claim form. Copies of your quotations must be supplied to the Estate Office before any work is started.
5. For incidents causing damage in excess of £2,500 your insurers will instruct loss adjusters to act on their behalf. The loss adjusters will contact you with a view to inspecting the damage and assisting you with arranging repairs.
6. Insurers require Malicious and Theft damage to be reported to the Police and a Crime Reference obtained and your insurers will ask you for this.
7. Claims for your own contents should be reported direct to your own insurers and the above guidelines will usually apply, but they may instruct a different loss adjuster.
8. ALL claims will be subject to the policy excess and if you can recover the VAT your insurers MAY require you to pay this.
9. If you require any assistance or have any queries please do not hesitate to contact the Estate’s Insurance Brokers direct.
BAM Estate Insurance Brokers
RBIG Corporate Risk Services Ltd
1 Cranberry Drive
Tel: 0161 304 5019 - Contact: Lyndsey Chadwick