How Peverel "phrase" matters can and has proved costly for leaseholders.
From time to time it is inevitable that things can go wrong in any development.
For example a pipe may develop a leak, a toilet fails or severe weather may cause damage or cause the development to flood.
The damage resulting may be the same, but insurance companies treat the claims differently.
The former example is termed as "water ingress" the latter "storm damage"
The difference being that water ingress normally attracts a lower excess than storm damage.
So if Peverel could represent a leaky toilet as being a result of storm damage, they would stand to gain financially, since they can bring the repair bill below the excess, forcing residents to pay for repairs.
This is especially true if several items are damaged, but they are claimed for on an individual basis.
It should be noted that any "incentives" offered by insurance companies to any Peverel/Firstport company are now linked to the claims history.
