Expensive insurance due to sensitive 3rd party information?Make Text Bigger
My freeholder is responsible for building insurance for a flat that I own in a building with 8 flats. The insurance premium is 3 times (£450) what I pay for a similar flat about 200 yards away (£175).
When I challenged this, the freeholder refuses to disclose any other quotes obtained due to “sensitive 3rd party information”. I have suggested that the sensitive information can be redacted to no avail.
Furthermore the management company is claiming for small repairs (7 in past 5 years – 4 rejected by insurance). We fought to change the management company (for excessive charges ) successfully 3 years ago, demanding the right to manage. Despite a new management company being in charge, the premiums are still rising.
I am being told that I have no option, but to pay up (the insurance premium) what is demanded no questions asked.
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