claim by joint Policy holder

berbatov10

Hi. I am joint Policy holder for landlord insurance on 2 flats which are a basic house conversion, I own the upper flat the ground floor is the other parties. The other party is in the process of making a claim on the Policy, I believe that is due to the nature of tenant they let their flat out too and I think their will be similar claims going forward. My query is if I decide to just insure my own flat on my own Policy at renewal do I have to declare the claim made by joint Policy holder 

Thanks     

Smithcom

berbatov10 said:

Hi. I am joint Policy holder for landlord insurance on 2 flats which are a basic house conversion, I own the upper flat the ground floor is the other parties. The other party is in the process of making a claim on the Policy, I believe that is due to the nature of tenant they let their flat out too and I think their will be similar claims going forward. My query is if I decide to just insure my own flat on my own Policy at renewal do I have to declare the claim made by joint Policy holder 

Thanks     

How does the lease deal with insurance?    

What component parts of the building are you looking to insure?

Yes, it's possible, but it potentially messy and could be problematic in the event of a serious claim, for all kinds of reasons.

Be careful

SC

DullGreyGuy

berbatov10 said:

Hi. I am joint Policy holder for landlord insurance on 2 flats which are a basic house conversion, I own the upper flat the ground floor is the other parties. The other party is in the process of making a claim on the Policy, I believe that is due to the nature of tenant they let their flat out too and I think their will be similar claims going forward. My query is if I decide to just insure my own flat on my own Policy at renewal do I have to declare the claim made by joint Policy holder 

Thanks     

Yes, you're joint policyholders and so would need to declare your joint claims. 

Trying to insure 1 building under multiple policies causes a long list of issues in the event of a large claim. 

user1977

What exactly is the claim for? Is it a risk which is required by the leases to be covered?

berbatov10

To explained it is joint freehold so no lease issues to deal with.  

DullGreyGuy

berbatov10 said:

To explained it is joint freehold so no lease issues to deal with.  

You'd normally still have a lease otherwise you would be entitled to each use the full property etc