# Is building insurance generally covered in apartment mangt. fees?



## rmelly (14 Nov 2007)

I met with my bank manager this evening to finalise some loose ends on Mortgage approval. He said that for Apartments that have a management fee, this generally includes building insurance, so I would only need contents cover for Mortgage Protection insurance, i.e. no Building Insurance required. Is this generally correct? I'll be following up with solicitor later this week but wanted to check before talking to her.


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## ClubMan (14 Nov 2007)

This is often the case alright - the block insurance arranged by the management company/agent covers buildings insurance and you only need contents. However you would need to ascertain the details to ensure that the cover is actually in place (I know of people who assumed that it was but it wasn't!) and that it is sufficient to obviate the need for your own buildings insurance.


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## rmelly (14 Nov 2007)

Thanks, I plan to follow up with solicitor (I'm assuming she will know or can find out?), just didn't want to risk sounding like a complete idiot.


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## ClubMan (14 Nov 2007)

You don't sound like an idiot - those are perfectly reasonable questions but ones that can ultimately only be answered by checking the terms & conditions of your management company agreement/lease and making sure that the management company (and their agent) follow through on their obligations on an ongoing basis.


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## rmelly (14 Nov 2007)

will do, thanks.


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## z109 (15 Nov 2007)

It's also worth finding out if there are any major works planned - lifts, boilers, communal areas, as these will vastly increase the level of the annual charges when they are done.

You should also check whether there is a sinking fund in place for this sort of work (i.e. that the management company are putting a bit of money aside each year to cover costs that will come up in the future).


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## Phibbleberry (15 Nov 2007)

So..if you buy an apt, your fee tends to cover buildings insurance and waste charges..?!?!
We're buying a house and have to pay _marginally_ under half the fee of the duplex's etc..but theirs covers waste charges (so they are essentially paying the same as us once we cover waste etc...) and they get off having to pay buildings insurance TOO!?!?!?!?


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## ClubMan (15 Nov 2007)

Phibbleberry said:


> So..if you buy an apt, your fee tends to cover buildings insurance and waste charges..?!?!


Depends on the management company.


> We're buying a house and have to pay _marginally_ under half the fee of the duplex's etc..but theirs covers waste charges (so they are essentially paying the same as us once we cover waste etc...) and they get off having to pay buildings insurance TOO!?!?!?!?


Surely this is something to investigate further with your solicitor or the management company rather than ranting about it here? If you don't like the arrangement then you don't have to buy there.


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## Phibbleberry (15 Nov 2007)

Wasn't ranting...just curious, jeez...


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## ClubMan (15 Nov 2007)

Most posts with SHOUTING (ALL CAPS) and multiple exclamation/question marks read like rants to most people.


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## Phibbleberry (16 Nov 2007)

Didn't think anyone would be offended by the word too. Won't happen again..._sorry_


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