axil23 Posted August 29, 2012 Report Share Posted August 29, 2012 Just wondering if it's worth claiming on this one. My T had a small fire in a flat. Will cost me £1,000 to fix. If I take a claim will it effect my entire portfolio when it comes to renewal? I would hate for the other properties in my portfolio to also take a hit because of this one. Link to comment Share on other sites More sharing options...
Richlist Posted August 30, 2012 Report Share Posted August 30, 2012 If its a flat then presumably its leasehold and the buildings insurance is a block policy provided by the freeholder or their managing agents from the service charge account ? Normally the lease requires the freeholder to effect insurance for the building so any valid claim should be paid in full. They don't normally operate a 'no claims bonus' system as with cars. I can't imagine that a relatively small claim for £1000 is going to directly result in a significant increase in premium next renewal but, only the insurers can advise you on that. Link to comment Share on other sites More sharing options...
axil23 Posted August 30, 2012 Author Report Share Posted August 30, 2012 If its a flat then presumably its leasehold and the buildings insurance is a block policy provided by the freeholder or their managing agents from the service charge account ? Normally the lease requires the freeholder to effect insurance for the building so any valid claim should be paid in full. They don't normally operate a 'no claims bonus' system as with cars. I can't imagine that a relatively small claim for £1000 is going to directly result in a significant increase in premium next renewal but, only the insurers can advise you on that. Sorry little confused by your questions. Basically I paid £x premium to insure 21/23 flat numbers which are upstairs and downstairs combo. Now 23 has had a claim. But I have another x number of properties in that portfolio. So will a claim on one of my properties cause the premium to rise on just that one or all? Link to comment Share on other sites More sharing options...
Richlist Posted August 30, 2012 Report Share Posted August 30, 2012 I'm surprised if your insurers can't provide you with a definitive answer. Good luck. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.