Building insurance for flats is the freeholder's job because the leases say so, and the job is a short list of recurring tasks rather than a single decision. Doing them is unremarkable; not doing them is how a block ends up underinsured, over charged or, occasionally, uninsured altogether.
The recurring tasks
Renew on time. Commission a reinstatement assessment every few years and index link between. Note the interests the leases require. Apportion and recover the premium through the service charge, documented. Keep the policy and the assessment where leaseholders and their conveyancers can be given them on request.
What the leases decide
Which perils must be covered, the basis of the sum insured, whose interests are noted and how the cost is recovered. Insuring more narrowly than the leases require is a breach owed to every leaseholder, and it is the shortcut most often taken when leaseholders complain about the charge.
What leaseholders can ask for
A summary of the cover, inspection of the policy and the supporting documents, and a challenge to a service charge they consider unreasonable. Commission arrangements on block business have been under regulatory scrutiny and disclosure is expected. Publishing the summary annually forestalls most of this.
Questions people ask about building insurance for flats freeholder
Who insures a block of flats?
The freeholder or a management company acting for them, under the obligation the leases impose, recovering the premium through the service charge.
Can leaseholders see the policy?
Yes. They may request a summary of the cover and inspect the policy and supporting documents.
How often should the sum insured be reviewed?
A professional reinstatement assessment every few years, with index linking between assessments.