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messageBuildings insurance advice please
Posted by mancity68 October 02, 06:58PM

Grateful for any insurance guru advice....

I am a leaseholder who also shares the freehold with the other leaseholder in my building (a property split into two flats).

Historically, we have each bought our own buildings insurance but, whilst having our leases extended and modernised, were advised that it was much more usual for the building to be insured by the freeholder on a single policy.

We're quite happy to do this but our respective insurers, co-incidentally both LV, say that we have to continue to insure separately.

Is this just a quirk of LV or is it usual for leaseholders in small shared freeholds to procure their own buildings insurance? Does anyone who is a leaseholder and shared freeholder in a small property insure the whole building collectively with their other freeholders? If so, is there a broker you'd recommend?

We thought this would be a simple change ....


messageRe: Buildings insurance advice please
Posted by Banzai October 02, 07:18PM

Hi there

We have the same set-up, 2 flats, share of freehold, and we have one lot of buildings insurance - just coming up for renewal in fact. We switched last year to Adler insurance, who seem quite reasonable. Generally I think you need more specialist insurers for this, as it is landlord's insurance, insuring 'blocks of flats' - even if there are only 2 flats.

Good luck

messageRe: Buildings insurance advice please
Posted by nxjen October 03, 04:53AM

The problem is that LV and the other large home insurance companies arenít equipped to deal with situations that are a little bit different and the customer service staff can only follow an inflexible script. Freeholders insurance is far preferable in your situation and would suggest you get in touch with Lansdown who are brokers. And when your premiums increase sharply after a few years, ask for a better deal!

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