I let a leasehold flat and the buildings insurance is arranged by the freeholder via his managing agent. However, the premium is double that which I pay for another flat in a similar property of which I am the freeholder and arrange insurance myself.
Although I have approached the agent and asked for further quotations I am told that I have no redress and must pay the amount asked for. I understand the agent has a
block policy with Aviva which covers many properties ( I would have thought this
would reduce the premium). It has also been mooted that the high premium is due to
the amount of commission being taken by the managing agents , who also charge us an annual management fee. Can the flat owners of this property collectively demand
A) further quotations for cover
or B) to arrange insurance cover themselves?
Or any other ideas please.
Although I have approached the agent and asked for further quotations I am told that I have no redress and must pay the amount asked for. I understand the agent has a
block policy with Aviva which covers many properties ( I would have thought this
would reduce the premium). It has also been mooted that the high premium is due to
the amount of commission being taken by the managing agents , who also charge us an annual management fee. Can the flat owners of this property collectively demand
A) further quotations for cover
or B) to arrange insurance cover themselves?
Or any other ideas please.