commercal building insurance

[davidc1]

I have a question please .
i owned a shop , and the flat above , freehold
i sold the flat(freehold retained , lease 125years) , but retain the shop.

when i renew the buildings insurance what should i actually cover.?

thanks.

[surveyor]

davidc1 said:

I have a question please .
i owned a shop , and the flat above , freehold
i sold the flat(freehold retained , lease 125years) , but retain the shop.

when i renew the buildings insurance what should i actually cover.?

thanks.

Check the Lease. You may be obligated to insure the whole and recharge some of the cost.

[davidc1]

Thanks for you help.
is there a process to claim back a portion of the insurance from the owner of the flat?
regards
david

[insurance_jon]

yes - as long as its in the lease

[spikeyhead]

insurance_jon said:

yes - as long as its in the lease

off topic,

Jon,

I send you a PM a couple of days ago, did you get it?

[jonnydm]

Very limited experience but I thought that one of the commercial benefits of being in such a position is that the freeholder insures or arranges insurance of the property which is then charged at a premium to the lessees or charged directly to them with a kickback to the freeholder? I'm sure someone will be along to correct me shortly!