Lanlords Buildings Insurance - Leasehold ???

stylus360

Hi All

I own a property which consists of two self contained flats, both are occupied.

It is a leasehold property and i am liable for the buildings Insurance which i have to show the the Freeholder.

The freeholder has also had some quotes which are triple what i can get on a comparison site specializing in Landlords Insurance.

I have contacted the freeholder and said i will sort it myself BUT he has replied that -

'can we be certain all freeholders interests would be covered by the insurance you have found? they might not protect freeholders if the leaseholder is the property policy holder'

There was no question on whether the property was freehold/leasehold when taking out the insurance quote.

Also if its my responsibility is what am i supposed to stipulate ?

Thanks

dacouch

stylus360 wrote: »

Hi All

I own a property which consists of two self contained flats, both are occupied.

It is a leasehold property and i am liable for the buildings Insurance which i have to show the the Freeholder.

The freeholder has also had some quotes which are triple what i can get on a comparison site specializing in Landlords Insurance.

I have contacted the freeholder and said i will sort it myself BUT he has replied that -

'can we be certain all freeholders interests would be covered by the insurance you have found? they might not protect freeholders if the leaseholder is the property policy holder'

There was no question on whether the property was freehold/leasehold when taking out the insurance quote.

Also if its my responsibility is what am i supposed to stipulate ?

Thanks

There can be a difference between a "Landlord" policy and a policy to cover two or more flats.

The policy should be arranged with the freeholder as the policyholder with the leaseholders as either joint policyholders or noted as interested parties.

A proper policy arranged in the freeholders name will often include Employers Liability (Cover for employees such as cleaners etc) and sometimes includes communal contents.

Are there are any claims that you're not aware of or previous problems such as subsidence?

Where have you obtained the sum insured for the buildings cover from? I would not be surprised if you're under insuring the whole block

As a leaseholder you're responsible for paying for the Insurance, it's normally the freeholders responsibility to arrange the policy.

The above is assuming you're not in Scotland

stylus360

Its only a satndard house with 2 flats and a tiny shared hallway.

I have owned the above flat for a year but purchased the ground floor as well recently as the freeholder is now stating i am responsible as does the lease.

The freeholder was paying it previously.

There are no cleaners/subsidence etc.

dacouch

Are you obtained quotes for a "Residential Property Owners" policy or similar name or a landlords policy?

How are you describing the property on the comparison site eg are you saying it's a flat or a block or flats?