Insuring Your Home
With the exception of the owners who live within the Hutchsontown Estate, it is part of your Deed of Conditions, and therefore a legal requirement, that you have adequate buildings insurance cover for your property.
Your Deed of Conditions specifies that we, as your Factor, are required to arrange this buildings insurance cover on your behalf. Such cover is essential to ensure that every property in a block has cover in the event of serious damage affecting all properties. We have arranged a comprehensive policy with AVID.
Mortgage lenders may try to tie you into buildings insurance through them. This is not a legal requirement. To avoid unnecessarily paying two premiums for your building insurance you should explain that your Deed of Conditions, which is legally binding, requires that the insurance be arranged through the Factor. We will happily confirm your insurance cover to the lender.
What is covered?
- Fire, storm or flood damage
- Malicious acts of vandalism
- Theft or attempted theft
You have additional cover for accidental damage to the building and some internal fixtures such as kitchen units and bathroom sanitary ware. Basic buildings insurance does not normally offer this level of cover.
What is not covered?
The insurance policy does not cover general repairs that become necessary due to normal wear and tear or routine maintenance such as close painting or gutter cleaning.
Making a claim
Where a common insurance claim requires to be made against the policy, this will done by ourselves as part of our Factoring service. The Association will instruct necessary works and deal with the administration of the claim.
If any damage to common parts of the property are caused by vandalism such as broken windows, forced entry to close doors or graffiti it is important that such incidents are reported immediately to the Police Scotland by dialling 101.
This is necessary as the insurance company may not pay for the repair work without a relevant Police Incident Number.
Where you have an internal repair to your home that is covered by your buildings insurance policy it is your own responsibility to make this claim.
In this event, please ask us for an insurance claim form which should be completed by yourself and sent direct to AVID at the address stated on the claim form along with two quotes for the work required. We are happy to provide general advice from our office on how to complete the claim form.
Please note that the Association has no influence over the insurance company’s assessment of your claim or any subsequent offer of settlement and because we are not the insured party we cannot pursue an individual claim on your behalf.
We charge you for your annual insurance premium in quarterly instalments so that you can spread the cost throughout the year. This charge is included in your quarterly factoring invoice. We do not charge any additional fee for this instalment arrangement.
The Buildings Insurance described above does not cover your personal belongings. It is strongly recommended that you have Contents Insurance to cover damage to, or loss of, furniture, electrical equipment, clothing, decor, floor coverings and other personal belongings.
It is your responsibility to arrange appropriate Contents Insurance.