Buildings insurance increases 70% since last year?

Pic of landlord looking at buildings insurance bill from managing agents property118

9:20 AM, 31st July 2023, 3 years ago 4

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Landlord News Lettings & Management

Hi all, I have a 2 bed maisonette in blocks of 4, there are 5 blocks in total.

The Managing Agents have sent the invoices for the ground rent/buildings Insurance to each leaseholder in the blocks (20 in total) which represents 1:20th of the alleged policy premium.

What re-dress do we have regarding the policy total? I believe we have been charged excessive commission as highlighted by Independent sources to the Broker, Freeholder & Managing Agents.

Does anybody know our rights regarding this and is “Right to Manage” a possibility? What is the number required to action this?

Thanks again for any help.

Alan

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Tags: Buildings insurance, managing agents, Right to Manage, right to manage company

Comments

Gary

Member Since September 2015 - Comments: 31

9:48 AM, 31st July 2023, About 3 years ago

I think premiums have gone up by that much in the last year though.

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Amethyst

Member Since August 2019 - Comments: 25

10:02 AM, 31st July 2023, About 3 years ago

I suggest you read this article as confirmation of the scandal about the excessive commissions being paid and then contact LKP about the best way forward re management. https://leaseholdknowledge.us5.list-manage.com/track/click?u=64b30367f746602d257d4117d&id=38d34b2508&e=89632044c6

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Susan Bradley

Member Since November 2022 - Comments: 56 - Articles: 2

11:57 AM, 31st July 2023, About 3 years ago

Some of mine have increased and I was told that the reason is since Grenfell they have to have extra inspections to make sure that communal hallways and stairs are not obstructed. People tend to leave prams or bikes outside their flats but not in the lockups provided. Plus they have had to provide more lighting in the same areas.

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ellis freeman

Member Since April 2015 - Comments: 20

5:39 PM, 31st July 2023, About 3 years ago

Get your own quote, try slis insurance, we have had insurance reduced from £15k down to £6k with the freeholders insurance company after we got quotes for same cover and threatening 1st tier court involvement

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