Do leaseholders need building insurance?

[Htgaul]

Do leaseholders need building insurance, or only contents insurance? We also have share of freehold and the freehold management company has building insurance, so I assume that covers everything - is there any reason we would want our own building insurance? Thanks

No. In fact leases generally say that the leaseholder must NOT have buildings insurance.

Oh! Why is that? Thanks

I’ve never thought, but I suppose so there’s not conflicting claims if something happens.

When we had a flat in a block of 9, we just had contents insurance. Buildings insurance was covered for the whole block by the leaseholder.