Help please! Advance insurance quote needed for converted flats with adverse claims.

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    Help please! Advance insurance quote needed for converted flats with adverse claims.

    I am new here and my first post...
    i bought my house in 2016 in a building with two converted flats. The house came with the freehold for the whole property. The building has two semi detached parts. One part forms our house and the other part has two flats one in each floor. The leaseholders of both flats have let out their flats to tenants.
    Last May, the ground floor flat had water leak from the flat above suffered ceiling damage. It was repaired and then the flat was put on sale by the leaseholder. In September there was a recurrence of leak and again it was repaired. The leaseholder had claimed £14000 towards the repairs and loss of rent.
    Now sale has been agreed. The insurance policy comes up for renewal in mid-April. I would like to bill the present leaseholder for the renewal premium before the sale completion as there could be a transition period of 2-3 months before the new owner steps in.
    When I try to get a renewal quote, the insurer refuses to provide one before 30 days of start. Other insurer's refuse to quote due to the claims.
    Any advice will be greatly appreciated regarding -
    1. How to ensure the premium is collected before the sale process starts?
    2. Which insurer would be a good candidate to quote for the converted flats with adverse claims?
    Thanks.

    #2
    I don't see it's your problem, when you answer LPE1 you can quote last year's premium and say you expect it to rise due to recent claims.
    You can also easily get quotes by saying it's due in 2 weeks time.

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      #3
      Thank you Section 20z. Thinking of holding on to the LPE1 till I get a proper quote mid-March and then send a notice to the leaseholders for 50% contribution each. Then send out the LPE1 with the amount shown as due from the leaseholder.
      Please let me know if I am missing something.
      Thanks again.

      Comment


        #4
        I bought my house in 2016 in a building with two converted flats. The house came with the freehold for the whole property. The building has two semi detached parts. One part forms our house and the other part has two flats one in each floor. The leaseholders of both flats have let out their flats to tenants.
        As can be seen, the house shares no common area with the flats. Even the driveways are fenced separately.
        In this situation I don't see why our house cannot be insured separately from the flats. When I speak to the insurance agents invariably I get the response that all the dwellings in one freehold property need to be insured together. While I understand the rationale for households with a common area to have a single policy cover, in our situation it doesn't seem to make sense.
        ​​​​​I would like to decouple the insurance cover for our house from the flats so that I don't need to share the hike in premium due to claims in either one of the flats.
        Could I just go ahead and insure my house separately with any of the insurers ready to provide and if so would I be in any risk?
        Any thoughts or guidance would be greatly appreciated.

        Comment


          #5
          They are two (or 3) seperate properties, each with a different owner/leasholder who is responsible for their own buildings insurance.

          Take it up a step and think of a row of terraced houses all with the same freeholder.

          Even if the freeholder occupies one of the houses the buyers/leasholders of each house are responsible for their own buildings insurance.

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