Freeholder building insurance

spring24

My freeholder, this year, as added me, leaseholder as also a policy holder (without asking me first) instead of adding me as an "interested party"  as previous year, on the policy. Should I ask him to change it to "interested party" on the policy or leave it as it is? where do I stand legally - not being the freeholder, I shouldn't be legally liable for anything to do with the insurance that I didn't take in the first place as not my responsibility as per the lease. I'm also wondering about having my name as a policy holder (instead of interested party leaseholder) with two others (him and her), could affect my credit rating and other things, if my name is linked to them on an insurance contract?

spring24

"and other things, if my name is linked to them on an insurance contract?" ..... for instance, future insurances in the event that he hasn't insured the building adequately and a claim is refused or policy voided? worse case scenario - would my name down as also a policy holder could cause issues when taking other/future/different insurances in my sole name?

DullGreyGuy

My bigger worry right now would be if he has actually purchased appropriate insurance at all. Many non-professional freeholders just buy standard Home Buildings insurance but that only covers a single dwelling and not a house thats been converted into multiple dwellings. 

You won't want to be named as a policyholder and dont really need to be named as an interested party either for the reasons you mention of being liable for the premiums if they dont pay or having to declare claims and/or voided policies if he makes a claim on it for damage to his property alone etc. 

In principle as the named policyholder you may be able to speak to the insurer directly and have yourself taken off the policy. 

spring24

I've asked him to take me off as a policy holder and add me as a disclose as per the statement of facts. which since 2020, can be the name of the leaseholder (who can't change the insurance but can check the insurance etc... legally, the insurance needs leaseholder name somewhere on record for access). the insured property address shows both flats (since this year after my request!!...)

DullGreyGuy

spring24 said:

I've asked him to take me off as a policy holder and add me as a disclose as per the statement of facts. which since 2020, can be the name of the leaseholder (who can't change the insurance but can check the insurance etc... legally, the insurance needs leaseholder name somewhere on record for access). the insured property address shows both flats (since this year after my request!!...)

In neither of our last two places has the insurance listed the leaseholders; access to the insurance docs were via the freeholder's agent 

spring24

He's removed me as a policy holder and added me as: named financial interest with nature of financial interest: leaseholder. Might be more complicated/not needed in the case of a block of flats with 20 flats. but with a converted property of two flats, both flats should be mentioned on insurance documents and the name of the leaseholder since law in 2020, CAN be added so all is clear for everyone including insurance company.

DullGreyGuy

Which law?

20 flats? there are multi-building developments around here with hundreds of flats covered by one policy but still small fry compared to multinational corporate insurances.