Buildings insurance - leasehold?

AFF8879

I just bought my first flat (leasehold) and the lease states that the managing agent is responsible for buildings insurance, payable through the service charge, which seems to be a common arrangement.

However the lease states that the freeholder is not responsible for inside the boundaries of each flat. Therefore if, for example, there is a water leak from my bathroom that damages fixtures/fittings they would not be responsible.

However, this seems to be outside the scope of any standard contents insurance. I did a Google search and cannot find anything other than landlords insurance.

Do I need to take out full buildings cover for my flat? The premium is not super expensive so it would be worth it for the peace of mind, but still I'm surprised there doesn't seem to be a particular solution on offer given how common leasehold flats are (and the fact that I don't need insurance for roof damage, etc as that part is definitely covered by the freeholder - seems like a waste of money paying for full cover)

huckster

You can get Contents Insurance extended to include cover for internal fittings and fixtures. You have to ask Contents Insurers to do this. You have to come up with a replacement value of kitchen, bathrooms etc that you want covered. They will then add this on to your policy. Make sure you include accidental damage to all Contents including these fittings and fixtures.

This is very common, but not covered in online quote info. This is because the leasehold arrangements are various. Sometimes leasehold buildings can cover internal walks, kitchens etc. It can be confusing. You know what is not covered, so you extend Contents Insurance to cover internal fixtures etc.

HappyMJ

AFF8879 wrote: »

I just bought my first flat (leasehold) and the lease states that the managing agent is responsible for buildings insurance, payable through the service charge, which seems to be a common arrangement.

However the lease states that the freeholder is not responsible for inside the boundaries of each flat. Therefore if, for example, there is a water leak from my bathroom that damages fixtures/fittings they would not be responsible.

However, this seems to be outside the scope of any standard contents insurance. I did a Google search and cannot find anything other than landlords insurance.

Do I need to take out full buildings cover for my flat? The premium is not super expensive so it would be worth it for the peace of mind, but still I'm surprised there doesn't seem to be a particular solution on offer given how common leasehold flats are (and the fact that I don't need insurance for roof damage, etc as that part is definitely covered by the freeholder - seems like a waste of money paying for full cover)

The freeholder is responsible for insuring the whole property including the fixtures and fittings of each flat.

If the whole building burns down you get enough money to buy another one or the building is rebuilt with all the fixtures and fittings. You do not just get the walls, floors and ceilings. You will get the bathroom, kitchen, doors and windows.

You won't get your contents replaced. Anything you can remove without destroying the item is considered contents and that includes carpets and that's all covered by contents insurance.

You may need to speak to the Leasehold Advisory Service.

http://www.lease-advice.org.uk/publications/documents/document.asp?item=14#21