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Flat - buildings insurance

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I'm in the process of purchasing my first BTL. I previously owned a flat (residential) where the service charge covered the cost of joint buildings insurance, and each owner was then just responsible for their own contents insurance. 

I have enquired about how this works on my BTL (an old house split into 4 flats) and have received the following response; 'Each flat has there own building insurance and with the last buyer (previously it was sold but fell through due to a covid job loss) we had agreed on an indemnity policy to provide further cover incase of other polices not being up to standard or lapsing.'

Does this sound acceptable? I'm a little confused as I assumed that all split buildings would work as my previous one did re: insurance. Help really appreciated!

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