Buildings 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 ....