As an apartment owner in Marconi House, located at 335 Strand, WC2R, building insurance is a critical, yet often overlooked, element of property ownership. With its Grade II-listed architecture, luxury interiors, and communal amenities, Marconi House requires a robust insurance strategy. Fraser Bond offers expert guidance on understanding building insurance responsibilities and best practices for leaseholders.
In most cases for apartment blocks such as Marconi House, the freeholder or managing agent arranges the building or block insurance. Your share of the cost is then reflected in your service charge. Leaseholders typically do not need to secure individual buildings insurance unless they hold a share of the freehold.
Effective insurance for Marconi House should encompass:
Buildings insurance covering full rebuild costs—not merely market value
Communal contents such as lobby furnishings and shared installations
Property owners’ liability protection for third-party incidents
If applicable, employers’ liability and directors' and officers’ insurance (for RMCs)
Essential plant and equipment cover—including lifts and smart systems
Optional terrorism cover, particularly relevant in central London
Rising insurance premiums are shaping ownership expenses:
According to 2025 data, insurance costs for leasehold buildings across England have increased by over 90%, significantly above average trends.
The Leasehold and Freehold Reform Act 2024 enforces greater transparency on service charges and offers legal recourse for leaseholders disputing costs or management.
Fraser Bond helps clients navigate building insurance complexities by offering:
Analysis of existing block insurance policies—including coverage scope and cost benchmarking
Lease scrutiny to determine the insurance obligations of leaseholders versus freeholder
Assistance in addressing claim scenarios, policy adequacy, and negotiating with managing agents
| Insurance Component | Requirement for Marconi House |
|---|---|
| Buildings Insurance | Managed by freeholder; built-in communal rebuild protection |
| Communal Contents Coverage | Should include lobby, lighting, and fixtures |
| Liability Coverage | Essential to protect against third-party injury claims |
| Plant & Equipment Cover | Needed for lifts, HVAC, smart systems servicing |
| Owners’ / Officers’ Insurance | Required if there is an RMC managing the building |
| Tenant Responsibilities | Typically covered via service charges, subject to lease terms |
Insurance arrangements are a core part of property ownership, especially in landmark buildings like Marconi House. Fraser Bond is here to help leaseholders understand their rights, ensure fair charges, and preserve the value of their investment.
Visit FraserBond.com to schedule an insurance review or consult with our WC2 specialists.
