Buying apartment under shared ownership - insurance?

[elliecon]

I am in the middle of buying an apartment through the shared ownership scheme and the council have sent me a letter saying I need to have insurance set up on the apartment against fire and flood. This needs to be set up for the day I am signing the contracts and myself and the council's treasurer need to be named as benificiaries. They have asked that the policy and the first payment receipt be sent to them on the day the contracts are signed.

The problem I have with that is that because I am buying an apartment I can't get separate insurance, my insurance is covered in the annual fee I pay the management company. Has anyone had this problem before? Will I have to contact the management company, even though I haven't moved in yet, and ask them for a copy of the policy? However my name will not be on this as I haven't moved into the apartment yet. Can anyone help?

Many thanks

 

[MissG]

Hi Ellie
Your solicitor should be able to get a copy of the block insurance policy with your name and your apartment number on it. It should also note the interest of where you are getting your mortgage from. I am pretty sure this is available once you have paid your deposit although it is usually once of the last documents needed.
Good luck with the apartment!
G