Questions for correct insurance for lease hold flat.

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    Questions for correct insurance for lease hold flat.

    Hi, my Wife and I just competed on a 1 bedroom flat last week (our first lease hold property)and after doing a compare the market search which uses simply business I googled some reviews and found Alan BOSWEl. They are very helpful and not pushy at all. I took out policy a landlord policy with CoVea covering contents, fixtures and fittings to £20000 and owners Liabity etc.

    The thing I still find confusing is the lease stipulates the building covers structure of flat and outside of doors etc as buildings so I'm assuming does not cover bathroom or kitchen. However the buildings insurance for the block of moden flats (around 60 apartments) states cover for buildings cover and then £25000 for land lords contents ;communal areas only). Also the buildings insurance shows property owner liability to £25 million but I believe this would cover the freeholder and not us.

    I understand that the communal contents cover is just for communal areas so nothing to do with the our flat but under the policy termanology of 'buildings' in the Zurich policy it says landlord fixtures and fittings are covered. It's all very confusing.

    so I'm not sure if I'm double covered or if there was a catastrophic fire or flood would the buildings policy cover most of it or would the terms of the lease override the buildings insurance and thus my £20000 would have to pay for bathroom, kitchen, floor, heaters, plastering, drying out, etc. Which leaves me wondering if £20000 would leave me underinsured?

    Thanks for your help.

    James.

    #2
    Are you sure you are not confusing the repair liability in the lease with the insurance liability. It would be normal for the building insurance to have to cover the whole structure, not just the non-demised parts, but you could have a strange lease.

    Comment


      #3
      I expect that's what it is. I thought it was strange as it just a flat in a large apartment block.

      Thanks for the reply.

      Comment

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