buildings insurance

Lorrydog

I have just bought a flat which I might try to sell once refurbished (timescale six to eight weeks) or let if no interest. Do I just need bog standard buildings insurance or specialist 'landlord' insurance?

dacouch

Are you in England or Scotland?

Is the flat Freehold or (More likely) Leasehold?

Quentin

You only need landlord insurance if you do let it.


You may have a problem getting cover now if its empty/undergoing any alterations/building works


Maybe see if a local broker (not Swinton) can arrange the correct cover for you

Lorrydog

Hi, I'm in England and the flat is leasehold.

eddddy

Lorrydog wrote: »

Hi, I'm in England and the flat is leasehold.

Usually the freeholder arranges buildings insurance - but you must make sure that you don't do anything during the renovation that voids/compromises that insurance.

Read your lease to check. If the freeholder does insure, ask the freeholder for a copy of the policy.


... but if your refurbishment is extensive, you might need consent from the freeholder anyway. And the freeholder won't give consent for anything that compromises the buildings insurance.