Buildings Insurance in Complexes

[beldibi]

Ian,
   If, I could suggest that we exchange info. here, then others can also read what we learn.
If the thread has died, certainly use pm..

[mercury]

No Ian never. I am just as curious to find out as you. (really). x

[Ian]

David - fine - I will speak with Baris in April

Ian  

[amanda bullock]

This is a great thread as i'm sure a lot of us have apts in complexes.Perhaps it should have a section of it's own, if the powers that be agree.Shame to lose this thread as will happen eventually.

[Ian]

Amanda - hi - I thought as I was the only one that knew what I meant at the beginning - but slowly we got there!  

I don't like leaving things to chance and if there was a specific "Buildings Insurance Policy" that covered the structure / communal areas / pool etc at a reasonable price and with a reasonable excess - then I would be interested.

I know my DASK will cover a potential disaster - I know my own policy will cover MY walls etc but all complex owners have a vested interest to protect their investment by maintaining overall standards - not just their own.

I also know this might be more difficult in some complexes but as we currently have 100% UK ownership maybe it would be easier.

Ian  

[lmaddy]

If a certain % of the complex insure through Intasure then they will give you the complex insurance at no extra costs. The insurance includes 3rd party liability insurance and includes things like the pool but not the pumps etc. So you need to check it.

At Seaside we have negotiated a group rate with different levels depending on type of property. All includes 3rd party liability & I think the complex is insured for 3M.

Even if you are a resident in Turkey you can still use Intasure. It is more expensive but you do get the all important 3rd party insurance.

The insurance for our complex was about £700 per year when we go quotes from other insurers including Baris but for us Intasure was the better option.

Intasure also agreed that we had 12 months to build up the % of owners taking Intasure cover for their personal villas.

Hope that helps

Regards
Lorraine

[Ian]

Lorraine - that is really useful to know.

Co-incidentally I got a quote from Intasure that arrived by e-mail this morning. It works out about £50 more expensive if you factor in the DASK on top but I accept it is likely to be more comprehensive and could have other benefits that you have now made me aware of>  

I will now speak with other owners and see what they think?

Thanks again for the information.

Ian  

[cef]

Hi Ian, I've PM'd you  

[grahamturner09]

Ian I am not sure dask would actually cover all the rebuilding costs intasure cover the shortfall

[Ian]

Graham - I have insurance from Baris which covers the shortfall - but I was interested to know if anyone had "Complex Cover" (no Tinx not complicated - complex as in apartment blocks).

Anyway Lorraine was right (I often doubt a woman) but having spoken to Intasure they will provide insurance for the communal areas of a complex - paths / walls / pool / roof etc if more than half of the owners insure through them.

Now I can't see we can do that straight away but it might be possible in the future.

The advantage is that if a car drives into the perimeter wall or if the roof blows off or if the pool is vandalised - it would all be covered - we are getting there