Leasehold buildings insurance cost will reduce by an average of 46%.
The Leasehold Service Improvement Group (SIG), working in partnership with Gateshead Council, has helped to procure a new buildings insurance provider from April 2018.
The SIG reviewed the contents of the tender document, ensuring the new policy would remain competitive and reflect leaseholders’ priorities.
The new three-year policy will be placed with Avid Insurance. The insurance premium rate will be £1.46 per £1,000 sum insured (inclusive of Insurance Premium Tax at 12%), resulting in an average reduction on the previous annual premiums of 46%.
The policy remains free of claims excesses, except in cases of subsidence, where the existing £1,000 still applies.
All leaseholders will be sent a new insurance policy booklet and contact details soon.
With your help we have changed services
Once again leaseholders across Gateshead have helped to shape the services received by more than 850 residents each year.
The Leasehold SIG meets every month to review performance and identify future improvements. In the last year the group, working with the Leasehold Services Team, have:
- Designed a new online survey which made it easy for customers to give their feedback. The number of responses was double that of the previous year (60 in 2016 vs 140 in 2017)
- Identified customer priorities and made changes to help increase customer satisfaction. Biennial survey results showed overall satisfaction had increased from 62% (June 15) to 75.8% in (June 17)
- Reviewed the Income Management Policy and reworded the letters sent to leaseholders. Major works and service charge collection are both above target and increased on last year’s figures.
You don’t have to be part of a group to make a difference
Involvement can range from a five-minute telephone call and completing a survey, to attending a full-day session or joining a SIG – you decide.
We appreciate all levels of involvement from leaseholders to develop and deliver services to a better standard.
For more information or to join the Leasehold SIG call 0191 433 5396.
Photo: Members of the Leasehold SIG with Leasehold Manager Janice Adams, Managing Director Jon Mallen-Beadle and Leasehold Officer Laura Chapman.