What insurance you need for leasehold flat in UK includes buildings insurance usually arranged by freeholder via service charge, plus your own contents insurance and liability, while in Australia strata flat needs contents and public liability. For leasehold flat in UK, you do not need buildings insurance as freeholder or management company arranges buildings insurance for whole block for £200K to £500K building, cost included in service charge $1,500 to $4,000 per year, covering fire, storm, flood and liability, but you should check it exists and sum insured adequate. You need contents insurance $20K to $50K for furniture, electronics, clothing, costing $150 to $300 per year, covering theft, fire and accidental damage, with $20M liability if you cause damage to neighbours like water leak $10K to $50K claim. You may need leasehold liability insurance if lease requires, and accidental damage for fixtures. For landlord who lets leasehold flat, you need landlord contents $20K and liability $10M $200 to $400 per year, plus loss of rent if tenant defaults. In Australia, for strata unit, building insurance included in strata levies $500 to $800, you need contents insurance $30K to $80K $300 to $600 per year with $20M liability. So for leasehold flat, you need contents insurance $20K to $50K $150 to $300 per year plus check buildings insurance via service charge, and liability $20M.
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