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Buildings Insurance Converted Flats
KatieRoseH
Posts: 1 Newbie
Hello!
I wanted to ask the wise people of MSE forum whether the premium increase for our building insurance (a Georgian house converted into four share of freehold flats) seems reasonable.
Between 2022-23 and 2025-26, the premium has increased by 850%.
This has been driven in part by two unconnected and significant claims for escapes of water affecting two separate flats.
While I appreciate that we lost our no claims bonus (say 25%) and that a (gradually decreasing) increase in premium is likely for the next few years, 850% seems astronomical.
Due to the recent claims, we have been told by our broker that we are unlikely to find another insurer that will take us on.
Does this increase seem normal? Any advice appreciated. Thanks
I wanted to ask the wise people of MSE forum whether the premium increase for our building insurance (a Georgian house converted into four share of freehold flats) seems reasonable.
Between 2022-23 and 2025-26, the premium has increased by 850%.
This has been driven in part by two unconnected and significant claims for escapes of water affecting two separate flats.
While I appreciate that we lost our no claims bonus (say 25%) and that a (gradually decreasing) increase in premium is likely for the next few years, 850% seems astronomical.
Due to the recent claims, we have been told by our broker that we are unlikely to find another insurer that will take us on.
Does this increase seem normal? Any advice appreciated. Thanks
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