WAV PT Provision of Property Insurance in respect of Leasehold Flats and Shared Ownership Properties (excluding Broker Services) - AWARD

The current Long Term Agreement expires on 31st March 2020. Waverley Borough Council invites bids for the provision of its property insurance in respect of private dwellings sold on a leasehold basis, the majority of these were under the Right To Buy (RTB) legislation. The dwellings are flats in blocks and flats in houses (maisonettes) where the Council still retain the freehold ownership and the leases state that the Council, as the Freeholder, will arrange the buildings insurance on behalf of the Leaseholder and recharge the premium as part of the Service Charge. Other flats in some blocks have not been sold (Council tenanted) and are separately insured so insurance cover for these flats are not required. In addition there are a small number of houses under Shared Ownership where Waverley Borough Council is responsible for the insurance arrangements although the premiums are re-charged to the residents. Separate policies are required for the Leasehold properties and Shared Ownership portfolios. Cover is expected to commence at 00.01am on the 1st April 2020