I own a flat that I previously lived in and now rent out. The freeholder organises building insurance and sends a bill every year. I have never really questioned this before, but this year it occurred to me that the insurance price is rather high.
For the whole building, a victorian house that has been converted into three flats, the price is £1824 of which I am being charged a third, plus a 10% management fee, a total of £668
I checked on some price comparison sites and building insurance for my flat alone can be purchased for around £230
Two questions - first - the sites I checked are for owner occupied buildings, is there a recommended price comparison site for freeholders building insurance, as that would be a fairer comparison.
Second, I suspect the freeholder is just lazily renewing the insurance every year without looking for better deals, as he has no incentive to do so. Is there anything I can do to about this or do I just have to accept the deal he finds?
I have emailed him to ask him to look for better deals and have provided my quote, but as yet he has not replied.