Inherited a empty flat (leasehold) - Do I need my own Buildings Insurance?

WSW

Hi,

I have inherited my Mother's flat (in a smail block of 6), and it has been up for sale for 13 months.

I have been counting on the Management Service Charge for the flats to insure the building.

It is only from a recent converation with the Estate Agent that I found out about Unoccupied Home Insurance, and that I may not be covered.
I scoured the internet and applied for a couple of Unoccupied Home Insurance quotes. Towergate, one of the most recommended companies, came back with a quote of £480 for 6 months insurance.

I spoke to the company who are currently overseeing the current buildings insurance for the block, and they said that, whilst I may not be covered for Escape of water / oil, they don't tend to have people get another Unoccupied Home Insurance policy alongside their insurance (they use Aviva). 
And they don't offer and "bolt-on" to allow for "Escape of water".

Any ideas/recommendations on what I should do?

DullGreyGuy

The freeholders will normally be buying Block Of Flat insurance which is a type of commercial insurance. Given a policy can potentially cover hundreds of units in a block/development it tends to have different terms to a consumer home insurance policy where clearly you as the policyholder will know if your home is empty or not and for how long. 

You could ask for a copy of the policy terms from the freeholder/managing agent and double check what it says about EoW, it could be that the person you were speaking to were just hedging their bets by saying it "maybe" covered

eddddy

As a starting point, ask the management company for a copy of the buildings insurance policy. It will say what the requirements are regarding non-occupation, etc.

For example, a block of flats policy I looked at recently just required that the flat is inspected at least once a fortnight (and the managing agent recommended keeping a diary of visits).  If so, maybe a neighbour can check it, or you could ask your estate agent if they can do regular checks (probably for a small fee).

WSW

I can check regularly, daily if needed. I live 5 mins away from the flat.

I am awaiting a copy of the policy terms from the management company.

I just wondered if the policy didn't cover Escape of Water, then would Aviva have "bolt on" that would allow for that cover just for one of the flats? Or would I have to get a whole new insurance?
Even places like Towergate still want an excess of £2500 to cover the Escape of Water (unless I fully drain the water system and turn off at stop !!!!!!). Or they don't cover EoW at all.
They still require me to go in once a week to check. For £90 a month insurance on a smal 2-bed, first floor flat.

DullGreyGuy

When you get into niche products you'll find premiums escalate quickly as there is little competition for the business