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I don't understand the question; the leases require the Landlord to place buildings insurance, covering the usual risks. we have now adopted that responsibility and are covering the same risks at the same declared value. Certainly, we've paid up every year, because, not having done any market research before, we have only made token protest and have never fully researched the market
Who knows? The brokers place cover with a reputable insurer, currently AXA, but appear to have an unusually close relationship with the freeholders; they state in their Summary of Cover that they 'place insurance in accordance with [managing agents] instructions and in that regard are responsible to [managing agents] only'. The cover undoubtedly meets all the requirements (of mortgage lenders etc) but the premium is not competitive.
You are entitled to ask for a copy of the premium receipt.At this stage, you don't actually know that they paid any premium at all!
If they don't come up with it, you are entitled to apply tocourt for a court order for "pre-action disclosure" to compel them tolet you have (say) the last five years premium receipts.
You should only be paying the actual premium paid by themanaging agent, not a massive chunk on top.
Can I help further? Please bear with me today because I amonline and off-line. Thank you
Thank you, very useful. We have also agreed terms to buy the FH and are about to complete. Needless to say, the current owners are leaning on us hard to settle outstanding service charges (not significant other than in regard to this year's insurance costs which we haven't paid and are seriously upset about as you can imagine!) We don't want to lose the deal (because new negotiations could result in a higher sale price given Clapham values are going up and fees would soar etc) but neither do we want to roll over on the insurance issue. I appreciate this is a much bigger issue than we have been discussing but if you have 'take' on it in broad terms, it would be much appreciated! Best regards
I think you could ask for the premium receipts as part of the "handover" procedure.
If in doubt, simply pay the premium and then sue the old management company .
Thank you, I'm on the case!