Being overcharged for building insurance on leashold flat

Stefan_Lesik

Hi, I've recently moved into a 2 bed leasehold flat. My flat and the flat upstairs have just been sent a bill for building insurance for £1800 for 1 year. Our lease states that we are required to 'place the building insurance with a nominated company of the freeholder'. However, this seems super expensive. what are my options for negotiating or finding another provider?

Quentin

The leaseholder isn't allowed to make any profit out of arranging the insurance. (And hard to prove he is!)


But if you and the other leaseholder can show that the same insurance can be bought much cheaper then you can see if the leaseholder is willing to switch suppliers. If not then you may need to escalate the issue - if necessary through court.