Concerned I am not named on insurance?

by Readers Question

8:41 AM, 20th June 2017
About 2 years ago

Concerned I am not named on insurance?

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Concerned I am not named on insurance?

My landlord owns the freehold of the building and he also owns the estate agents on the ground. He insisted that the flats are insured via his insurance supplier, and it’s not expensive.. Should the insurance docs at least mention us that we own them etc.?

I worry that they think he owns them and we wouldn’t be covered if a problem arose, anyone have any comments??

I’d appreciate it!

Paul



Comments

Jason McClean

8:56 AM, 20th June 2017
About 2 years ago

Hi Paul

The freeholder owns the building and therefore has the insurable interest. He is the only one that can insure the building, you have no insurable interest. There is no reason or need for the freeholder to put your name on the insurance as you do not own the building or portion of it.

You have a leasehold agreement. You are effectively renting your flat from the freeholder. It is his responsibility to put adequate buildings insurance in place for the whole building. I would ask him for a copy of that policy and check you are happy with terms and exclusions. If anything happened, his insurance should rebuild/reinstate your flat.

You need to insure your own contents as you own them.

Hope this helps!

Puzzler

9:15 AM, 24th June 2017
About A year ago

You are entitled to a copy. If you are worried request one.


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