Domestic buildings insurance contained by the UK?
I own a leasehold conventionally built bungalow on a holiday park. Under the terms of the lease I have to insure the buildings through the park owner who is approved by the FSA as representative of the insurance company. He have quoted an outrageous premium of lb327 for the cover. I got a quote from another insurer of lb80 for the same rank of cover. The site owner would not accept this and insists that I take his policy at his premiumas my lease states that I must transport the insurance offerered by the owner. I suspect that he cannot legally enforce this. Just because it is in the lease doesn't necessarily scrounging it is legal. I only hold a few days to act, so can anybody advise me on this? With the greatest respect, I entail an answer from someone in the know rather than simply an educated guess. No offence intended.
Answers:
Try the insurance Ombudsman
Sounds approaching a case for advice from the citizens direction bureau.
From my knowledge it looks like a satchel on an unenforceable paragraph in the contract because no-one can put in clauses which are "unreasonable" ie - you enjoy to sleep with the park owner every friday night!
FSA is a red herring as it lately means they are authorised to sell insurance - as is every insurance salesman/company. Which Insurance company is it? Sounds approaching a rip off to me.
You are entitled to shop around so have a word next to the other residents to see if any are willing to present a united front .It seem unreasonable to charge in this way but site owners are scandalous for rip offs such as this. Beware that these people find all sorts of ways to go and get more money from you and you will find it difficult to sell when the site owner is like this - you enjoy to tell potential purchasers of any such problems nowadays.
As a leaseholder, hold you thought of banding with others to buy the freehold? Again, check with your local CAB bureau.
You need an answer from someone in the know. . Your best bet is to win down to the citizens advice bureau for some informed advice from citizens who deal with this sort of item every day and will be able to look at the lease documents.
this is not outrageous for what you have ..... It is static and i would believe go ahead and catch it covered..... THIS is all kinds of insurance including someone getting hurt if they are within you property. It is not too bad. I insure just a charge acres of grass and it is much more than that!
Just my caravan costs more than that?? Source(s): tupenceseaforde
If the park owner is an appointed rep (AR) beneath the FSA then he has to treat the clients near respect under the treating customers fairly (TCF) and ICOB (Insurance conduct of business). I one-sidedly work in the creditor Insurance business, which has come underneath a lot of flack by the FSA and the competition commission for not allowing customers to make an informed choice on which PP Insurance policies to purloin out (and more importantly, comanies such as the one in question here, forcing customers to clutch one particular policy). Exactly the same principals apply here. Since January 2005 the Persoanl Lines insurance business come heavily under regulation since the FSA took over from GISC (general insurance standards council).
Persoanlly I believe you have a shield for taking this company to court, but it is indirectly. Speak to the companies Insurance provider and ask them if they are aware of this companies procedure for "making" you take out only this insurance policy. They may own to investigate into it.
If you want to get really narky, speak to the insurance company, and ask them if this particular company sell insurance on an "advised" or a "non advised" basis, this should put the cat amongst the piegeons a little.
The Insurance industry surrounded by the UK allows customers to make an informed choice on insurance, and I dont think you are getting it contained by this case.
good luck Source(s): I work for a crucial Personal Lines insurance company in the city, with a obedient understanding of regulation and compliance in the industry
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Answers:
Try the insurance Ombudsman
Sounds approaching a case for advice from the citizens direction bureau.
From my knowledge it looks like a satchel on an unenforceable paragraph in the contract because no-one can put in clauses which are "unreasonable" ie - you enjoy to sleep with the park owner every friday night!
FSA is a red herring as it lately means they are authorised to sell insurance - as is every insurance salesman/company. Which Insurance company is it? Sounds approaching a rip off to me.
You are entitled to shop around so have a word next to the other residents to see if any are willing to present a united front .It seem unreasonable to charge in this way but site owners are scandalous for rip offs such as this. Beware that these people find all sorts of ways to go and get more money from you and you will find it difficult to sell when the site owner is like this - you enjoy to tell potential purchasers of any such problems nowadays.
As a leaseholder, hold you thought of banding with others to buy the freehold? Again, check with your local CAB bureau.
You need an answer from someone in the know. . Your best bet is to win down to the citizens advice bureau for some informed advice from citizens who deal with this sort of item every day and will be able to look at the lease documents.
this is not outrageous for what you have ..... It is static and i would believe go ahead and catch it covered..... THIS is all kinds of insurance including someone getting hurt if they are within you property. It is not too bad. I insure just a charge acres of grass and it is much more than that!
Just my caravan costs more than that?? Source(s): tupenceseaforde
If the park owner is an appointed rep (AR) beneath the FSA then he has to treat the clients near respect under the treating customers fairly (TCF) and ICOB (Insurance conduct of business). I one-sidedly work in the creditor Insurance business, which has come underneath a lot of flack by the FSA and the competition commission for not allowing customers to make an informed choice on which PP Insurance policies to purloin out (and more importantly, comanies such as the one in question here, forcing customers to clutch one particular policy). Exactly the same principals apply here. Since January 2005 the Persoanl Lines insurance business come heavily under regulation since the FSA took over from GISC (general insurance standards council).
Persoanlly I believe you have a shield for taking this company to court, but it is indirectly. Speak to the companies Insurance provider and ask them if they are aware of this companies procedure for "making" you take out only this insurance policy. They may own to investigate into it.
If you want to get really narky, speak to the insurance company, and ask them if this particular company sell insurance on an "advised" or a "non advised" basis, this should put the cat amongst the piegeons a little.
The Insurance industry surrounded by the UK allows customers to make an informed choice on insurance, and I dont think you are getting it contained by this case.
good luck Source(s): I work for a crucial Personal Lines insurance company in the city, with a obedient understanding of regulation and compliance in the industry
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