Buildings Insurance

Our current buildings insurance charges are flat rates of £41.04 a year or £41.07 a year depending on whether you’re a shared owner or a leaseholder.  This doesn’t take into account either the size or type of home you live in.  This low rate has meant we’ve only been recovering about 50% of the cost to insure these homes.

From April 2024 we’re moving to a different way of calculating your building insurance which accurately reflects your home.  We’ll be charging for insurance based on the insured value of your home.  This means insurance charges will reflect the associated cost to rebuild your home including replacing permanent fixtures and fittings. 

When you receive your rent and/or service charge letter in February, you'll find your buildings insurance charges have increased.  This increase will vary with the size of your home, with the biggest impact to those in two and three bedroom houses and two bedroom flats. 

The rates we're charging are in line with insurance costs for your home. We think this is a fair way to calculate the charges and it also ensures we recover our costs so we can use this money to invest in our homes and improve services.

If you'd like to speak to us about this further please call 0300 777 2600 or e-mail help@goldinghomes.org.uk