Yes, but you must do things correctly! Many owner-occupiers have this problem. The Freeholder has gone AWOL and the occupants are left wondering can they do this themselves and would it be valid. Normally tenants can form a Right to Manage Company which allows this to be done. We would recommend you get the correct advice from specialist companies who do this for Blocks.
It will cover the buildings – for example, if there is a burst pipe and the flat walls get damaged, then this will be covered under the building's section of the policy. However, a flat owner or tenant should have their own contents insurance in place for contents owned by them. If the contents are not communal contents and owned by the Landlord, then they will not be covered under a standard Block of Flats Insurance Policy. You can arrange a Tenant Contents policy through Property Insurance Centre for as little as £56.00.
Yes. You can insure a block of flats which is partially empty. It is better to give the insurer a greater idea of when it will be occupied again and why it is empty. This will help the insurer determine the correct premium and keep the policyholder right in the event of any claim. Some insurer may not even charge any extra premium if the flat is empty only temporarily – they may, however, exclude Escape of Water in that particular flat.
Landlords, Freeholders, RTM (Right to Manage Companies) are all typical policyholders. The policy is designed to cater for part Owner-Occupied & part Let to Tenants OR fully Owner-Occupied & fully Private Let.
Yes. This type of policy will cover the whole block which means any communal areas will be covered for material damage (such as a burst pipe & water damage along with Public Liability).
Our block insurance policies are bespoke and designed to your specific requirements. Our clients range from small residential landlords to large commercial portfolio policies tailored to what is required and offer the best prices in the UK. These policies are common with landlords looking to cover their buildings and offer liability protection up to £10 million if required. In addition to the standard level of cover, we also offer legal expenses cover, loss of rent protection, alternative accommodation and landlords contents to name just a few types of additional cover.
There are two fundamental points you ought to know before you need to make a claim. Appreciating these will make sure you don’t get off on the wrong foot, with the person on the other end of the phone. Of course, most importantly, these core principles will help you to use best practice before and during the claim process. 1. The onus always rests on YOU (the insured) to PROVE that there is a VALID claim. 2. YOU must be able to PROVE the amount of the loss TOP TIP - Prepare for a loss before it happens. If you haven't already, make a list of the communal contents there are within the Block for example. Why not take a picture of what is there BEFORE disaster strikes If something is stolen, you will need to prove it existed in the first place. You, or the management company, should keep [...]
Maintain your Building The vast majority of claims are actually turned down due to a lack of property maintenance – for example, this is particularly true with flat roof claims. Make sure your roof is inspected every few years (or as the policy requires) and keep proof of such an inspection. This can be the difference between your claim being paid and not! There are however practical steps which you can take to try to reduce the likelihood of a claim and this will normally be viewed favourably by insurance providers. Make sure you have suitable fire detection, CCTV and physical security at your block as this will help to reduce the likelihood of fire, burglary or theft. Good building maintenance and monitoring can help to reduce the potential for weather-related damage, malicious damage in common areas or claims for accidents as a result of poor maintenance or negligence. Rather [...]
Many people purchase insurance and put a large excess on the policy as they think they will never use it but it’s important to note that in 2018 property insurance companies in the UK paid more than £15 billion in claims*. One article ** noted the top most common insurance claims made by small businesses in 2018 were for: Burglary and theft Water escape and frozen pipes Wind and storm damage Fire Slips, trips and falls by members of the public The type of building you have and the frequency of access by tenants and members of the public will clearly influence the likelihood of having to make a claim, as will the age and type of building being insured. *Statistica.com **https://www.thebalancesmb.com/common-insurance-claims-462673
To complete an application for block insurance you will need to know the basic information about the property such as: The overall size of the building and how many individual flats you are insuring. Construction and utility information such as the materials used for the walls and roof, security arrangements such as locks on doors/windows and whether there is any security on site as well as what kinds of utilities are available i.e. gas, oil heating etc. - Whether there is a mix of residential and business and if so, what types of business are within the block. - What fixtures and fittings are included within the property – and if there is any communal furniture or carpets that you may want to include in the communal contents section of the policy. Once you have gathered all this basic information you should chat to an expert in Block Insurance, such [...]
Property Owners Liability Alternative Accommodation Loss of Rental Income Communal Contents Legal Cover is optional Our Block Policies are Flexible You can add or remove certain covers as requiredLift inspection policies can be bolted on. If you have a claim we can provide a claims handler who works FOR YOU, not the insurance company! So our essentials in terms of the cover you will need are property owners liability cover in case someone is injured in the property. Employers liability cover in case a member of staff or volunteer is injured. Cover for damage which is malicious or intentional and for accidental damage. Our recommended optional extras which are normally regarded as beneficial include: Legal expenses to cover any legal advice or representation you need if someone makes a claim against you Loss of rent or cover for alternative accommodation in case the block becomes uninhabitable for any reason. There is [...]
Insurance arrangements in a block of flats or apartments can be confusing. Here are the straightforward facts about responsibility. Owner/Landlord You have responsibility for insuring the building and your policy must be suitable for rented properties if you are renting your flats out. If something happens like a fire or a flood you need to ensure you have the right insurance to pay for repairs or in the worst case for the building to be rebuilt. If you own more than one building you can take out one combined policy for all your properties. If you own a leasehold flat/apartments, the building should be insured by the landlord who owns the freehold. Typically, it isn’t your responsibility to take out buildings cover (although you may still be paying the premiums, via your service charge). If you have any fittings or contents within the communal areas of the building you may [...]
Converted Block of Flats Purpose Built Block of Flats Blocks with a Commercial Unit below Block with mixed Tenant types Owner Occupied Blocks of Flats
Block Insurance or block of flats insurance is for property owners or management companies with multiple connected properties. The risks associated with a single property are not the same as properties which are connected, so block insurance exists for these types of properties. Common examples of these are: Blocks of flats, conversions or maisonettes.
