If you own a flat, it is very likely that it is the responsibility of the Freeholder/Landlord or the Management Company to insure the whole development. Your lease will set out who is responsible for arranging the building insurance for your property.
Where it is the Freeholder’s/Landlord’s responsibility to arrange the building insurance under the terms of the Lease, we recover the cost of the premium from the leaseholders. We may invoice the leaseholders direct or the Management Company or an appointed managing agent, in which case the leaseholders may be invoiced by their management company or managing agent as part of the service charge.
The development would be covered under a block policy. This ensures that all common parts, roofs, party walls etc are covered along with all the flats within the block. It is very unusual for a flat lease to allow a leaseholder to arrange the building insurance for their own individual flat.
LPM is an Appointed Representative of Residents Insurance Services Limited who is regulated by the Financial Conduct Authority.
If you own a house, it is usual for the owner to arrange their building insurance.