Where a house is a "rebuild" or requires major repairs, and no single claim breaches the cap, the claim cannot be passed to the private insurer. As a consequence EQC becomes responsible for the rebuild or repairs.
The following, which focuses on rebuilds, is specifically about those in the Red Zone but the underlying EQC as insurer issue also affects many in the Green zones.
Where a house is in a residential Red Zone the owners are given two choices: Option 1 or Option 2.
Option 1 is to take the rateable value for both the land and house. Option 2 involves taking the rateable value of the land and settling with your private insurance company for the building(s). Those whose house is written off are entitled, by …