Jump to content

Recommended Posts

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 ....


Cheers.

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

The problem is that LV and the other large home insurance companies aren?t 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!
  • 5 months later...

Hi


I have just received a renewal for my Buildings and Landlords Insurance from LV which equates to a 36% increase in the premium. LV fobbed me off with generalisations about increase in claims / crime in the ED area but I still think this is pretty excessive. Whilst I will look at alternative insurers and approach brokers, I found obtaining landlords insurance for a share of freehold where both freeholders rent out their properties and where there was a previous subsidence claim (albeit 15 years ago by a previous owner) still makes this very unattractive to prospective insurers and so I have had to stick to my current insurer.

I would be very interested to hear from others in the area, what their approximate premium increase has been and if anyone can recommend an insurer for landlords & buildings insurance (I will try Adler as Banzai has suggested)

Thanks

We had our buildings re-evaluation done as per the every three year requirement and the premium has gone up 12% - I?m thinking it?s too high. We have one policy for the whole block and always have done - we self manage also. The broker we use is Robert Nott and they have yet to let us down etc.. Other providers can easily be over ?1k or so more, for the same terms... I hope this helps

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Latest Discussions

    • CPR Dave, attendance records are available on Southwark's website. Maggie Browning has attended 100% of meetings. Jon Hartley has attended 65%.
    • I do hope NOT, wouldn't trust Farage as far as I could throw him, Starmer & co.  He's backed by GB News which focus's predominantly on immigration while the BBC focus predominantly on the Israel - Gazza conflict.   
    • Everyone gets the point that Corbynites try to make with the "total number of votes cast" statistic, it's just a specious one.  In 2017, Corbyn's Labour got fewer votes than May's Tories (both the percentage of votes and aggregate number of votes). In 2019, Corbyn's Labour fewer votes than Johnson's Tories (both the percentage of votes and aggregate number of votes); and he managed to drop 2.7 million votes or 6.9% of vote share between the two elections. I repeat, he got trounced by Boris F***ing Johnson and the Tories after the Brexit omnishambles. It is not true that a "fairer" electoral system would have seen Labour beat the Tories: Labour simply got fewer votes than the Tories. Corbyn lost twice. There is no metric by which he won the general election. His failure to win was a disaster for the UK, and let Johnson and Truss and Sunak into office. Corbynites have to let go of this delusion that Corbyn but really won somehow if you squint in a certain way. It is completely irrelevant that Labour under Corbyn got more votes than Labour under Starmer. It is like saying Hull City was more successful in its 2014 FA Cup Final than Chelsea was in its 2018 FA Cup Final, because Hull scored 2 goals when Chelsea only scored 1. But guess what - Chelsea won its game and Hull City lost. Corbyn's fans turned out to vote for him - but an even larger group of people who found him repellant were motivated enough to show up and vote Tory.
    • I guess its the thing these days to demonstrate an attitude, in this instance seemingly of the negative kind, instead of taking pride in your work and have standards then 🤷‍♀️
Home
Events
Sign In

Sign In



Or sign in with one of these services

Search
×
    Search In
×
×
  • Create New...