Buying Separate Home Contents Insurance

Written by Karen Bryan

As we live in a flat, there is a common buildings insurance policy, which is arranged by the factor (property manager), we have to buy separate home insurance cover.

The premium that we pay for the buildings insurance for a top floor three bedroom flat is already higher than the joint buildings and contents insurance that we paid for our previous three bedroom detached house. This is partly due to the factor earning a commission on the block buildings insurance policy. Plus, the construction of the flat is non standard, as it has a rubber roof.

The block building insurance for our flat doesn’t even offer as good a level of cover as the joint buildings and insurance cover which I arranged for our previous home. The excess on the block policy is higher and the number of days during which the property can be left unoccupied is fewer.

Overall, I believe it is a good thing to common buildings insurance cover administered by the factor. when living a flat. One of my friends lived in a flat in Stirling where everyone in the block arranged their own insurance. She also lived in a top floor flat. When there was a leak in the roof and she had to organise an emergency repair, here insurance company would only pay for one sixth of the cost. Three of the neighbours never paid, leaving her seriously out of pocket.

The rubber roof in our current flat also means that I was only able to get three quotes for separate home contents insurance. Again, the price for home contents insurance is higher than the price of combined buildings and contents cover in the our previous home.

There also the complication of having to deal with two different insurance companies if we had a major incident at the flat which involved damage to the structure and the contents.

It seems crazy to be paying more than the twice the price for inferior cover to insure a flat than we paid to insure a detached house.