As Leaseholder, I pay for insurance

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M
Mr Millet
101 Posts
6 Thanks
Hi, I just found out that my property is probably not insured. I am a leaseholder of a flat, there is a superior leaseholder who pays the owner of the building for insurance on his part of the building (my flat is one of five in the block on which the superior leaseholder owns the lease). It states in his lease that he pays the proportion of the insurance fee applicable to his lease (50% of the building). The Superior Leaseholder charges the 5 leaseholders in his part of the insured building (each 1/5th of his part of the insurance). Effectively, us 5 leaseholders are paying 50% of the whole building insurance to the Superior Leaseholder, who pays this to the owner. Non of us 5 leaseholders are named or appear to benefit in any way should the building burn down. I have asked insurers if I can take out my own insurance but they say I cannot as the building is already insured. Firstly, is there anything I can do about this to ensure I have cover and secondly, I have been paying 250 per year for insurance that does not benefit me at all. I realise I signed the lease which states that I must insure the building, but as the insurance premium I am charged has no benefit to me, can I refuse to pay unless the insurance policy includes me as a named financially interested party and can I refuse to pay for any outstanding premiums owed?? Thanks
10/09/2012 00:00

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