I agree that it's worth considering.

You need to ask the question who is going to bill the leaseholders for their share of the insurance (and any other communal expense)? You don't really want to do it in your name as you have no more rights to bill them than they have to bill you. If there's a limited company with 3 shareholders, you can have a meeting from time to time to elect the person to get the insurance quotes and to collect the money from the others. Sometimes there will be problems collecting money which could involve taking legal action and this would require the "nature" of the person/company taking the action to be clearly defined.

With a limited company you would need to submit an annual return and a tax return each year.

Markell are good, NIG are also good for that.

Have you considered creating Ltd. company between yourselves?

Thanks for that. Do you know which insurers do these policies? I presume trial and error but if you have any past experience it would be helpful.

Thanks again,

B

I would be inclined to take out a communal insurance policy for the building (some insurers do such policies, some don't) and let the leaseholders arrange their own contents policies.

Contents cover does depend on what valuables are being covered, what claims have been made recently, what cover is required and so on. In my opinion, it's better if the people concerned sort out their own policies. Such an approach is not practical for the building's policy.

hi - hope you can help. i want to take out building insurance on my house. the house is converted into 3 flats and we each share a third of the freehold. can i speak to all insurers or is this a special case?

also, is it better / cheaper to try and include contents cover in the policy?