Building insurance for Right to Manage (RTM) properties

by Tony on 14/06/2011 in Property Insurance

Arranging building insurance for a right to manage property can be an arduous task.  The main issues that we find RTM’s normally experience surround placing a correct rebuild value on the property, and obtaining details the previous claims experience.

Our recommendation is to always have a proper building valuation survey carried out by a chartered building surveyor. Although there is an initial expense, this will prevent the likelihood of under-insurance in the event of a claim.

We have seen a number of risks in the past, where because of no management structure in place, individual owners have been forced to arrange cover solely on their particular flat. Where there are mutiple insurers covering one property or block, there can be huge problems in the event of a loss. Our recommendation is to have the entire risk covered under one single policy to avoid potential problems.

By using an insurance broker, it is possible to obtain a full range of quotations. Our friendly team will make a final recommendation based not only on the premium but on the quality of the cover. We work directly with RTM’s or with their managing agents.

For further information please contact Tony Gibbs on 0118 9452944 or complete one of our enquiry forms.

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