Buildings insurance for leasehold flat

Sparks17

I live in a house converted to 2 flats. The freeholder owns the ground floor flat and organises the buildings insurance.  However, I have just been told that the renewal cost is £421 which is more than my friend's 4 bed detached house! Has anyone else had this issue? Is there anything I can do? I phoned the insurer and queried the cost and they said its because it's a complicated policy. I've had to raid my savings to pay for it. 

DullGreyGuy

Sparks17 said:

I live in a house converted to 2 flats. The freeholder owns the ground floor flat and organises the buildings insurance.  However, I have just been told that the renewal cost is £421 which is more than my friend's 4 bed detached house! Has anyone else had this issue? Is there anything I can do? I phoned the insurer and queried the cost and they said its because it's a complicated policy. I've had to raid my savings to pay for it. 

The insurance for our building is £18,000 for which my share is circa £600 for our 2 bed flat. 

In most cases the freeholder has to buy Block (of Flats) Insurance, a form of commercial property insurance. Totally different product to Domestic Home insurance and normally notably more expensive for a variety of reasons. 

Your quote isnt too bad for a leasehold flat, certainly there are many paying much more.