Insuring your property under a common buildings policy might not always be the cheapest way to insure your investment, but it is without doubt the best method for common blocks and flatted developments. It is why Deed of Conditions (Title Deeds) places obligations on owners to collectively insure under a single policy, through the managing agent.
Insurance Reinstatement Value
Your home is likely to be the biggest investment you will make in your lifetime, so it’s really important that you insure for the full reinstatement value, against all general risks. BCIS (RICS – Building Cost Information Service) recommends that property sums insured are professionally revalued at least once every 5 years. Further information is available here from BCIS. Speirs Gumley can obtain quotations from professional valuation surveyors, on behalf of development owners, but bear in mind that often we don’t have the authority to do so without explicit (majority) consent. If you are concerned that you may not have had a revaluation in the past 5 years, or that your sum insured does not meet current reinstatement value, please contact us to request quotations.
Escape of water
Escape of water is the most common reason for insurance claims. Our brokers have prepared a guide to help you understand why claims are increasing and what you can do to minimise the risk. You can download the guide in PDF format here.
Insurance Act 2015
You can download our information guide in PDF format here.
You can download our Q & A in PDF format here.
We don’t insure play areas for material damage because our experience is that the cost of insuring potentially outweighs the benefit, but if owners prefer it to be insured we will be happy to do so at additional cost. If you require any further information email email@example.com
How to make a claim
If you need to make a claim under your buildings policy, there are several ways to notify us:
- Call our Claims Department on 0141 332 9225 between the hours of 9am and 5pm Monday – Friday.
- Provide loss details through our Insurance Claim – Notification of Loss form below and we will contact you.
- email loss information (cause of damage, date of loss), estimates and photographs to our Claims Department firstname.lastname@example.org .
If you suffer a major loss outwith our normal office hours please call 0845 604 4075 for our out of hours service. This number should be used for emergencies only not for general claims to be reported.
Once we have received notification of your claim we will:
- Set up your claim on our system and submit to your insurer
- Inform you of what needs to happen next to progress your claim
- Keep you fully informed throughout your claim
Our preferred insurance contractors
Should you require the services of a specialist insurance contractor details of our approved contractors are listed below. You are not obliged to use these contractors and may obtain estimate(s) from your own chosen contractor. Please note that a minimum of two estimates are required for any claims if the anticipated costs exceed £1000.
These contractors cover Glasgow, Ayr, Prestwick, Edinburgh, Stirling and Greenock.
- Paterson Builders – 0845 226 0354
- Robb Reinstatement – 0131 561 4489
Insurance Claim – Notification of Loss