Terminating Group insurance policy on tenament block of flats - Scotland

[ewans]

Hi all, looking for some advice RE the need for common or group buildings insurance policies for a block of flats in Scotland.

there are 6 flats in the block, we have a factor and they arrange a group buildings insurance policy for us. the cost and service level of this is not competitive, almost £500 p/year more than sourcing insurance as an individual. Myself and 4 of the 5 other owners in the block want to drop this group policy. The factor will not source us another vendor. Beyond this the factor is very good.

The land register of Scotland records for our properties make reference to the need to 1) appoint a factor and 2) that factor to provide a group insurance policy and pass the cost on to us - this entry seems to be from around 1919.

Simple question - are we stuck with overpriced, ineffective group policy? if not what if anything legal do we need to do to drop this so we can organize our own insurance.

thanks
ewan

[labman]

Re: Terminating Group insurance policy on tenament block of flats - Scotland

I would contact these people:

http://scotland.shelter.org.uk/get_a...rs_and_factors

[des8]

Re: Terminating Group insurance policy on tenament block of flats - Scotland

Good advice L.
I recall years ago that COMMON AREAS of tenements, flats etc in Scotland had their insurance arranged by a
management company or such like, whilst owners/tenants were responsible for their own flat.

It sounds as if the management/factor in this instance is arranging a group insurance for the whole building, not just the common areas.

I think it would be necessary to see the Title deeds to ascertain the exact position.

Also aren't the factors appointed by the owners of the individual flats? If so change the managers.