Insurance Services for Right to Buy Block Buildings administered by WDC

Descriptions

Insurance Services for Right to Buy Block Buildings Insurance Scheme administered by West Dunbartonshire Council. The Block Buildings Insurance Scheme provides insurance cover for domestic properties sold by the Council in terms of former Right to Buy legislation. The conditions of sale in respect of 'Right to Buy' properties state that, where a property has a common part and the Council still has an interest, the Council will insure the subject with an Insurance Service Provider for the full reinstatement value and shall be entitled to recover the insurance premiums payable from the owner of the property. Where applicable, the building insurance cover in terms of this Scheme may continue when the original buyer sells the property onto a secondary purchaser. There are currently 4,634 properties insured under the Block Buildings Insurance Scheme as at 7th October 2021 with total sum insured at GBP649,666,199. Of these properties, 2,012 have standard cover with a total risk value of GBP278,353,770 and 2,622 properties have accidental cover with a total risk value of GBP371,312,429.