Buildings Insurance
We maintain insurance for all our properties and estate areas as part of what is called a ‘Landlords Block Policy’. This covers major risks like flood, fire, earthquake, storm damage and some accidental incidents like major leaks. Our Block Policy covers all the buildings and estates for which we are responsible – it does not relate to ‘block’ as in blocks of flats. Some items which are the Leaseholders’ responsibility to maintain such as wall plaster, floor surfaces, entrance doors, bathroom sanitary ware, are included within this cover for incidents like accidental damage, for instance due to water leaks.
We regularly review the level of insurance cover and the provider to obtain best cover and, where appropriate, you will be consulted formally as part of the procurement process. When we change provider, a copy of the current Policy summary and information on how to claim is sent to each leaseholder. This can also be found on our website. If you have a mortgage, your lender may ask you to provide a copy of the Buildings Insurance summary every year.
Because of the large amounts involved, Landlords’ Block Policies are usually significantly cheaper than what it would cost to insure individual blocks of flats so our leaseholders’ premiums are much lower BUT – PLEASE NOTE
Leaseholders’ personal contents, fixtures and fittings and third party liability
The Watmos buildings insurance does not include your contents, ‘white goods’ (cookers, refrigerators, washing machines etc.) and fittings or personal possessions like furniture, clothes, bicycles, floor coverings or, very importantly, your personal liability. So, for instance, if a leak from your property damages another person’s property, they or their insurers may sue you. Equally if your possessions are damaged by a leak from another property whether it is leasehold or tenanted, Watmos insurance will not reimburse you. Therefore we strongly recommend that you organise your own contents and liability insurance. Some policies also cover accidental damage and lost keys, which is relatively inexpensive compared to the costs if something goes wrong.
Landlords’ Buildings Insurance Excess Charge payable by leaseholders
Most insurance policies, including car insurance, have an agreed excess amount which is paid by the insured person making the claim. This reduces the cost of the insurance because petty claims are avoided. At the moment, the buildings insurance excess fee is £100 per claim and this has to be paid by the leaseholder making the claim, regardless of the cause of the claim. Please be aware of this and if you are making a claim, check the current excess charge that you will have to pay.
Making a Claim
Insurance policies contain time limitations within which claims must be reported to insurers. To avoid the possibility of insurers repudiating a claim on the grounds of late notification, we recommend that all circumstances that may give rise to a claim are immediately reported to Arthur J. Gallagher Insurance Brokers Ltd who handle block insurance claims from leaseholder’s on behalf the insurance provider Aspen Insurance UK Ltd which includes the investigation and settlement of claims.
In The Event of a Claim: During office hours, please contact the Claims Department at Arthur J Gallagher on 01245 341 200. In the event of an incident out of hours, you should take whatever action is necessary to prevent further damage. If the damage is catastrophic where the cost is likely to exceed £5,000 or where the property can no longer be occupied, please immediately contact the nominated Loss Adjuster on 01245 341 200.
Document Links
Please see links below to the Buildings Insurance Policy Wording Document and Summary of Cover. In the interests of sustainability, all documents will be maintained on our website however, printed copies can be provided on request.
Buildings Insurance Summary of Cover 27 Sept 2024 to 26 Sept 2025 1MB