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Freehold Block of Flats Insurance: Top Cover Tips If you own a freehold block of flats, it's crucial to have the right insurance coverage to protect your investment. Standard home insurance policies may not provide adequate protection for the unique risks associated with a block of flats. That's why it's essential to choose a specialised block of flats insurance policy that covers the specific needs of your property. Block of flats insurance typically focuses on buildings insurance, which covers the physical structure of the property. It ensures that the walls, flooring, and enduring fixtures and fittings are protected. In addition to buildings insurance, it is also important to consider additional covers such as public liability, landlord home emergency, and legal cover. When selecting an insurance policy, factors such as the type of tenants, unoccupied flats, and the risk of water leaks and subsidence should be taken into account. It’s essential to accurately determine [...]

Top Block of Flats Insurance Pitfalls Welcome to our guide on block of flats insurance pitfalls. As a property owner, you want to ensure that your investment is adequately protected, but there are common insurance pitfalls that you need to be aware of. In this section, we will discuss the most common pitfalls that property owners face when it comes to block of flats insurance. By being aware of these potential issues, you can avoid costly mistakes and take steps to protect your investment. Key Takeaways: Block of flats insurance has common pitfalls that can be costly if not properly addressed. Being aware of potential insurance pitfalls is the first step in protecting your investment. Understanding Block of Flats Insurance If you own a block of flats, it is essential to have a clear understanding of block of flats insurance. This type of insurance provides coverage for properties that [...]

Block Insurance Essentials Owning a block of flats means you are responsible for insuring your building and flats. This article explains the essentials of what you need to know. Firstly, you’ll need to look at building insurance This covers the cost of repairs for the structure, such as any external walls, windows, and roofs, as well as permanent fixtures like doors, fixtures, gates, and paths. This covers theft, storm, and fire as well. Communal areas and block insurance Be aware also that if the block of flats includes communal areas, which most do, you may also need to obtain extra coverage for shared amenities such as laundry rooms and other areas. Get a Quote Insurance under one roof We are specialists in many types of insurance Block [...]

Apartment Block Insurance Essential Facts  It is always important to have some form of property insurance, even if you live in an apartment. Apartment block insurance will usually cover the individual flats within a building, as well as the common areas. This type of insurance is important because it can protect you from having to pay for repairs for the flats or common areas in the event of damage. Of course, you may be concerned about flats insurance cost and if the cover is really worth it! Buildings insurance will typically cover the entire structure of the building, including the flats. This is important because it can help to protect your investment if the entire building needs to be repaired or rebuilt. Firstly, let's distinguish between some of the common aspects of this type of property insurance. Landlord insurance is another type of insurance that you may want to [...]

Block of flats insurance pitfalls Block of flats insurance pitfalls hot topic = underinsurance First thing- a very large and important topic at the moment is underinsurance. As you know, last year has resulted in the costs of building materials rising due to, obviously, supply and demand issues and currently, obviously, there's a war going on with Ukraine and Russia. All these things combined creates a perfect storm with regards to building costs and supply issues, etc. That's resulted- especially since the pandemic it's resulted in costs going up, possibly between 20 to 30%, for different types of building materials. As a result of this, what we've got in the UK at the moment and Northern Ireland. It's a lot of building materials, and buildings themselves, especially blocks of flats are now underinsured. Get a Quote Insurance under one roof We [...]

The UK's monetary regulatory authority has actually cautioned that "substantial" intercession could be needed to deal with the skyrocketing price of insurance coverage for renters in skyscrapers following the Grenfell Tower disaster. The structure security dilemma in the of the 2017 fire in a London block that left for dead 72 individuals has actually caused insurance firms drawing back from multi-occupancy structures, or billing a lot greater costs to cover prospective payments. In a letter sent out on Tuesday to Michael Gove, Secretary of State for Levelling Up, Housing and Communities and Minister for Intergovernmental Relations since 2021, the Financial Conduct Authority's executive supervisor, Sheldon Mills, claimed cost rises can be an outcome of insurance providers "shying away" due to the expenses of making structures secure. Proprietors normally take out the plan, which can cover several structures, commonly with the solutions of a broker.