Contingent building insurance - Joint freehold / leasehold flat

bowcreek

Hello fellow members - Does anyone have had experience / knowledge of taking contingent building insurance? I've had discussion about best insurance practices in such arrangements in another thread on the forum, but looking forward to get your views about Contingent insurance here.

We are buying a ground floor flat conversion flat as leasehold but will also own freehold of the building jointly with first floor. Both flats have separate entrances, no communal area.

My solicitor is suggesting below policy in addition to taking building insurance for our flat, which should cover gaps like other flat being uninsured etc. at the time of a big claim or similar situation where we can't be sure if other flat has adequate building insurance.

http://gcsonline.gcs-title.co.uk/PolicyTypesKeyFacts.aspx?type=CB

Best insurance option of insuring jointly isn't working out due to not been able to discuss completely with other freeholder as he doesn't live there.

Please can I get your experiences / views on this topic? Thanks

G_M

Sigh.

https://forums.moneysavingexpert.com/discussion/comment/71346874#Comment_71346874

bowcreek

G_M wrote: »

Sigh.

https://forums.moneysavingexpert.com/discussion/comment/71346874#Comment_71346874

If you look at my post, I did myself tell others that I've explored best insurance practices and ways around it etc. but this post was specifically to check experience and views of others specifically about Contingent Building insurance.


You couldn't give any comments on that matter in my other post either G_M but I did appreciate your help in terms of best ways to go forward with. Cheers.