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Hi there


I'm a flat owner in a converted Victorian house. The Freeholder is responsible for arranging buildings insurance - the cost of which is split equally amongst the four flats.


I have been cited a figure of around ?600 for my share i.e. c.?2,400 for the building. The four flats are all probably worth in the region of ?390k-?430k each.


Is this a reasonable figure? It seems high.


Thanks!

You could ask them to show you the broker quotes they got and if they are proposing just renewing ask that they use a broker to get alternatives. No one can tell you if it?s cheap or expensive as don?t know specifics or claims history.
And may be worth checking that the Freeholder isn't receiving a commission for placing the insurance policy with the proposed provider. If they are not a professional freeholder then unlikely, but the commissions for professional freeholders can be substantial.

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