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Hi, i have a number of properties that are leasehold (900 years ish) a firm called the compton group is the freeholder. They inform me that i MUST use their nominated insurer to insure the properties, the insurer is Zurich and this year (policy due for renewal 1st october) the premiums have risen by approx 80%. In previous years i have done what they asked basically because i didnt want the hastle, now though im talking a lot of money!
I have read some of the leasehold and commonhold reform act 2004 to try to find out exactly what documentation (notice of cover) i need to provide to comptons so that i can use my own insurer, but it isnt very clear. I need to know the following;
When do i have to issue the notice of cover?
Is there a template of it?
Do i need to do one notice for each property even though my policy at the moment is a block policy?
Do i insure them with another firm before issuing the notice?
I am extremely keen to get this right first time, as apparently comptons are very good at finding mistakes which make the notice of cover invalid.
Sorry for waffling on, if you need to speak to me, i can be contacted on 0777 900 8482 anytime


Mark Taylor

06/09/2009 00:00

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