Presumably all leaseholders have received notification of the council’s intention to enter into an agreement for leasehold building insurance. Anyone know what this might end up costing, and whether it means one doesn’t need separate contents insurance? Thanks.
Contents insurance: This definitely won’t be covered for a number of reasons, including that it’s not Camden Council’s requirement to insure the contents within your flat and everyone will want different levels of insurance anyway.
As to the cost: I’m going to hazard a complete guess that it will be in line with the existing cost (plus inflation), which is already included in your service charge. The only reason that we’re notified is that it’s a legal requirement to do so whenever the contract comes up for renewal; I find it’s one of the less contentious aspects of the service charge bill.