Leasehold insurance cost

Pickle1068

Good evening.  
I am struggling to understand why my leasehold flat insurance is so high. Currently its 380 a year without ground rent . We live in a maisonette.  Doe's this amount sound correct to anyone or are we being ripped off.  In the current situation we are really struggling with our bills of course like nearly everyone.  
Thanks in advance. 
William 

Neil49

Is this what the freeholder is charging you via the service charge? 

MyRealNameToo

Pickle1068 said:

Good evening.  
I am struggling to understand why my leasehold flat insurance is so high. Currently its 380 a year without ground rent . We live in a maisonette.  Doe's this amount sound correct to anyone or are we being ripped off.  In the current situation we are really struggling with our bills of course like nearly everyone.  
Thanks in advance. 
William 

Ours is nearly £700 for a maisonette

Freeholders have to buy Commercial Property Insurance which is priced very differently to consumer Home insurance. 

poseidon1

Pickle1068 said:

Good evening.  
I am struggling to understand why my leasehold flat insurance is so high. Currently its 380 a year without ground rent . We live in a maisonette.  Doe's this amount sound correct to anyone or are we being ripped off.  In the current situation we are really struggling with our bills of course like nearly everyone.  
Thanks in advance. 
William 

I arrange commercial buildings cover for the Freehold of a house converted to 4 leasehold flats.

Rebuilding costs estimated around £ 2million this year, total insurance premium was £1,789 , my 25% share for my leasehold  £447.50.

I have struggled to keep this annual cost within reasonable bounds as rebuilding costs soar and the number of insurers offering  this type of cover shrink by reason of takeovers and mergers often by large international overseas conglomerate. It's the way of the world.

If you and your fellow leaseholders wish to understand and control these kind of building protection costs, you can always try and buy out the freeholder and arrange these things yourself.