The LEMC Directors are responsible for arranging the buildings (not contents) insurance for the freehold houses (not the leasehold properties) on Lacuna Estate. On January 1st 2015, we appointed a new broker, Lark and we now have ongoing cover with NIG. We have an all risks 'property owners combined' insurance policy with NIG for the freehold buildings on Lacuna Estate. Please see the documents attached to the bottom of this page for details.
In June 2018, we undertook a valuation of the entire estate, for the purposes of confirming our sum insured. Our total sum insured actually decreased slightly to £38,200,000, which in return reduces our premium.
You can see a copy of the 2018 reinstatement cost assessment report at the bottom of the page.
Please note: as is standard practice, Lark has insured the LEMC estate as a whole, and just the address of an individual property suffices in the event of submitting a claim.
2014: £40,962 (including PJJS and broker fees and including cover for terrorism)
2015: £29,989.40 (excluding cover for terrorism but including broker fee)
2016: £28,175 (including broker fee) plus £2,010 for terrorism cover
2017: £29,500 (including broker fee) plus £2,010 for terrorism cover
Householders must take all reasonable precautions to prevent or minimise damage, accident or injury. They must maintain their property in a good state of repair. Maintaining their property in a good state of repair is also one of their covenants with LEMC.
CHANGE OF RISK
The Insurance Act 2015 applies to our (commercial) policy. Insurers are no longer allowed to void a whole policy because some unrelated matter has not been disclosed. For example, they are not allowed to avoid paying out for fire damage because a policyholder had not told them the intruder alarm has stopped working
The insurers are still able to reduce claims if you have not disclosed relevant risk factors.
Please notify Lark (and LEMC) immediately if you can think of any material changes that might be perceived by our underwriters to constitute a change of risk:
This might include
- any unusual or commercial occupancy details (which in any event may be prohibited under the covenants)
- any renting out of the property to students, or DSS
- any proposed building works
- any period of unoccupancy of more than 90 days (please see attached pdf document below for details)
Nil each and every loss in respect of fire, lightning, aircraft and explosion
£1,000 each and every loss in respect of subsidence
£300 each and every loss in respect of all other losses
Please read the attached 'summary' document for details.
TWO OF THE MAIN EXCLUSIONS
Deterioration and other gradual causes
Faulty or defective workmanship
Please see attached documents below for further exclusions.
BROKER CONTACT DETAILS FOR CLAIMS
- Account manager: Andrea Lees Farrell BBA (Hons) DIP CII: email@example.com: 01622-356927
- Claims team: 0207 543 2810
- Emergency claim number: 0345 600 9052
In the event of a claim, please keep us informed of your progress by emailing firstname.lastname@example.org