In leasehold property arrangements, the freeholder (landlord) is legally required to purchase and maintain the master building insurance policy for the entire physical structure. This obligation ensures that the structural integrity and common areas of the building are fully protected against major perils like fire, storms, and structural damage. However, the cost of this master building insurance policy is typically passed directly on to the leaseholders through annual service charges and maintenance fees, while leaseholders remain responsible for buying their own contents insurance.
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