Block of Flat Insurance Help - £400 difference in quotes?!!

whist

Hi all,

I have a share of freehold in a block of 4 flats. We have had insurance with Royal & Sun Alliance since the freehold was formed in 2000 and no claim has been made.

The quote we have for this year from R&S is £740 (sum insured £305k xc Terrrorism)

I got a quote from Norwich Union $392( sum insured £300K exc terrorism).

I dont understand how they can be hugely different. The voer summary appears to be fairly similar but I've asked for the full schedule from both insurers just to be sure.

Can someone tell me why there would be such a huge difference?

This was the same last year, when I got a quote from Norwhich union but had to gowith R&S in the end because the others were a bit concerned that not everything was being covered.

shudder

Insurance quotes for flats can vary considerably just like car/home.

You have done the right thing by asking for full policy wording the best thing to do is sit down with them and write a list, all the covers down one side then a second & third colum for the 2 insurers then list the various limits/inclusions so there easy to compare.

Other specific information to take into account would be trace & access/loss of metered water/unoccupancy conditions and basis of cover specified perils/accidental damage/allrisks

Other than that they are both mainstream uk insurers so there shouldn't be any other detrimental differences.