Buildings insurance

[Happy Face 29]

Sorry if this thread gets people too excited but I was hoping for a bit of help. I've tried a few insurance companies but get sick of being on hold for 30 minutes.

 

In the hope someone on here works in insurance.....

 

If I own flats B and C in a building and someone else owns flat A, do they need to go on my buildings insurance?

 

The freehold is held by a management company we're both named on.

 

2 years running I've paid the insurance for the whole building and got nowt back off him, now he's asking for this years certificate and I don't want to get jipped again. Can I buy insurance for buildings b & c and just leave him to himself?

 

Cheers

[Guest Toplass-101]

Id guess that as long as you have insurance cover to match the reinstatement value of your two properties (+ say 10% that some mortgage providers will ask for) then thats all you would need.

 

If anything happened to the property in the middle surely its down to that owner to pay you for any damage to yours and vice versa.

 

Like I said though, this is just a guess.

[Guest alex]

Crazy idea here but have you thought of asking the insurance company?

[Gemmill 47807]

HF, I'm in a similar position, but the bloke who runs the management company pays the insurance for the entire building and recharges the flats based on selling value. Mind he hasn't charged me since I've moved in so I haven't paid up. It's not you is it?

 

On the initial question though I think you would have to club together for the insurance and have it all on one policy. Try ringing a local broker firm rather than one of these idiots that's gonna put you on hold forever.

 

0191 482 1219 is the number for Northern Counties Insurance in Gateshead and that's who I use for my contents.

 

Ta.