Insurance

Buildings Insurance

Rishworth Palace Ltd. is required to arrange a building insurance for the whole building. Residents must arrange their own contents insurance.

There have been incidents of damage to apartments from internal leaks caused by failures and faulty workmanship. Water spreads quickly in a communal building and the damage can be distressing, disruptive and expensive. Owners are responsible for internal damage to their own and, if affected, neighbouring apartments, except if caused by structural and/or common area faults.

If you are having work done, and as a routine, please check for leaks and have them fixed.

All claims made on Rishworth Palace Ltd. building insurance must be approved by the board of directors. Claims are checked for validity and have a policy excess of £100 payable on any claim, except for subsidence where the policy excess is £1000 and water leaks where it is £2,500. The latter is because there have been historical claims for broken sinks and toilets, leaking taps and water tanks, etc. which are not the responsibility of Rishworth Palace Ltd or of the insurers.

Rishworth Palace Ltd. building insurance doesn’t cover every event; wooden/laminate flooring is not covered in fairness to those owners with carpets which are classified as contents and therefore not insured.

Please make sure you are adequately insured.