Insurance

Communal Building Insurance on a property that is factored is normally covered by a Block Buildings Insurance. If insurance is applicable to your development or property it will be referred to within the Deed of Conditions.

Any building with communal areas such as shared roofs, gardens or internal stairwells are required to be covered by a common building insurance policy.

A block buildings policy is a communal Insurance Policy which avoids the pitfalls which could arise when vital cover is left to be arranged by individual owners with disparate requirements. The reasons why a communal insurance policy is used is: ·

The reassurance to all owners that the complete building which they share has adequate insurance cover, thus allowing them to cancel and private insurance they may have arranged
Avoiding the situation where, if apartments are insured individually and one or more oweber may be grossly underinsured, a serious potential shortfall of funds could arise, potentially jeopardizing the reinstatement of the building after a major loss, e.g. flood damage, fire etc

What Does The Building Insurance Cover

The Block Buildings Insurance covers all fixtures and fittings within the building and the structure of the building. It is important to note that individual policies do not cover communal areas so it is essential to have a Block Building Insurance policy in place.

Who Do I contact?

You can contact our Property Managers regarding insurance but we recommend approaching our Insurance Broker called One Solution on +44 (0) 141 204 5432 www.1-solution.co.uk .

What Does The Broker Do?

Property insurance is essential to protect your investment and the Broker will, on behalf of Property2 and yourselves obtain competitive, comprehensive property quotations (including all liabilities) annually from recognised insurance providers thus ensuring that you as residents benefit from the best deal. They will also assist you with any claims that occur throughout the insurance year whether individually or collectively.

Insurance Claims Procedures

In the event of your requiring to make an insurance claim, please contact One Solution, advising of your name, the development name, full property address and insurance policy number. They will assist you through your claim.

Property2 Client Discount

One Solution can also offer you as a valued customer of Property2 a group discounted reduction of 10% from the final premium on your Household Contents Insurance. Please mention Property2 when calling or emailing One Solution, along with the name of your specific development in order to qualify for this specialist rate.