Home Contents Insurance 2027 - 2032

Tender description

The Home Contents Insurance scheme in operation through the Housing Service was introduced to give our tenants access to Home Contents Insurance at rates that individually they would not be able to secure. The HCI scheme is available solely for North Lanarkshire Council (NLC) tenants who elect to participate. It is designed to offer a basic pay as you go Home Contents Insurance policy with an option for additional accidental damage cover. Premium payments charged by the insurance providers in this scheme are based on factors such as: - The characteristics of the area - Size of stock - Overall claims experience in the area - The market at the time that the scheme was tendered. As 73%% of our tenants are in receipt of housing benefits or other forms of support for their housing costs, this contract makes the provision of Home Contents insurance more accessible to tenants. Currently circa 5000 tenants subscribe to the scheme. Lot 1: The Insurance policy offered should be a basic pay as you go policy and must provide an option for tenants to select for ‘accidental damage’ cover. The Insurance policy must provide a ‘New for Old’ cover agreement. Insurance cover is to be offered in blocks of 1,000 GBP, with minimum sums insured to be at least, or better than the following: (a) 6,000 GBP for those living within one of our retirement housing complexes (b) 8,000 GBP for any tenants aged 55 years of age or over; and (c) 9,000 GBP for all other tenants. The greatest sum to be insured should be at least 50,000 GBP but tenderers should indicate if they would agree a higher maximum sum insured. There should be no excess payable for any claims made by tenants with either the Basic policy cover, or the Basic and additional ‘Accidental Damage’ cover. Additional information: Economic operators may be excluded from this competition if they are in any of the situations referred to in regulation 58 of the Public Contracts (Scotland) Regulations 2015.