What Is Block of Flats Insurance?
Block of flats insurance provides a simple and flexible buildings insurance policy for Residents Associations, Right to Manage (RTM) Company, Freeholders or Block Managing Agents. Typically, the individual flats are subject to long-term lease agreements and each leaseholder will contribute to the block of flats policy arranged by the freeholder as part of their annual management fee. As well as the building itself, cover can be extended to provide additional cover such as terrorism, communal contents, legal liabilities and legal expenses.
Block of Flats Insurance – What Do I Need?
The core protection for flat insurance is cover for the building itself. Policies are based on the rebuilding sum insured to reinstate the block to its current condition following an insured loss such as a fire or flood. Typically policies are arranged on an “All Risks” basis meaning that cover is provided for any loss which is not specifically excluded. Cover can also be extended to cover legal liabilities such as property owners liability and employers liability as well as “trace and access” and “emergency services access” indemnity.
Compare Block of Flats Insurance Online
As property insurance experts, Insync has selected a panel of the UK’s leading flat insurers. You can compare cover and prices online in a matter of minutes, building a tailored package to meet your specific requirements. Alternatively, why not book a free review with one of our property insurance advisors who can assist you in finding the right level of cover at the right price for your budget.
Buildings Cover for Flats – Extended Cover
In addition to buildings insurance, cover will usually extend to cover your legal liabilities as the property owner. This will include property owners’ liability and employers liability where you may employ staff such as a gardener or maintenance worker. We would also recommend the inclusion of legal expenses cover.