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Block of Flats Insurance

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Block of Flats Insurance

Apartment block insurance refers to the coverage of multiple residencies within one building. Whether a house that has been converted into self-contained flats, to purpose built blocks, insurance brokers consider a property with two or more flats to be a block.

Insuring a single flat within a block is one thing, but if you are the owner of a block of flats you will face increased risk in a lot of areas. This means securing a dedicated block insurance policy to cover all possible eventualities.

For example, if there is damage to a communal area, it may go unreported and, if it is, the culprit may not be able to be identified. In this case, you would want the damage repaired quickly and conveniently, which often means making a claim.

What Do You Need to Know About Block Of Flats Insurance

Windows on block of flats

 

What is a block of flats?

A block of flats is constituted as a residential building that contains more than two self-contained flats or apartments. As the owner of the block, you may act as a landlord for the tenants or have the flat managed by a third-party company acting as landlords (collecting rent, sorting out tenant’s issues etc).

Do I need landlord insurance for a leasehold flat?

This depends on whether your building is looked after by a management company, or whether you look after them yourself. For the latter, if you act as the landlord then it is advisable to include some form of protection as part of your block insurance policy, as landlord insurance is considered a separate entity to block insurance

Front of block of flats

 

Do I need buildings insurance for a leasehold flat?

Buildings insurance comes as part of many block insurance policies, to some degree. Any damage to the structure, communal areas, or landscaped gardens will usually be covered by this element of your policy, but you should speak to your broker to ensure your policy is properly tailored to your specific needs.

Can I get a block of flats insurance online quote?

We’ll do you one better – just fill in our simple form and one of our specialist block of flats insurance brokers will call you to arrange a competitive quote. With this method, you won’t need to waste valuable time sifting though various companies to find the apartment block insurance quote, we’ll bring the most trusted brokers directly to you.

Policy Features of Block of Flats Insurance

 

Property Owners’ Liability Cover

In the event you  need to make a claim, property owners’ liability cover will pay for legal costs and compensation payments. This is often an integral part of your overall insurance plan. Find out more about Property owners liability Insurance.

Loss of Rent Insurance

In the event of your block of flats being uninhabitable or a tenant cannot pay for whatever , you will be able to receive guaranteed rental income. Without this cover, property owners could find themselves out of pocket. Read more about Loss of Rent Insurance 

 

Malicious Damage & Theft by Tenants Insurance

Protection against deliberate theft or damage to property by tenants is another important aspect of block insurance. Disgruntled tenants could cause significant damage which then causes financial difficulty further down the line.

 

Buildings & Contents Cover

A must-have for property owners, buildings and contents cover protects your bricks and mortar building and internal contents from damage caused by fire and flood. Find out more about Building & Contents Insurance.

 

We Partner With

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Gauntlet
Nova Insurance
Konsileo

Why QuoteSearcher for Block of Flats Insurance?

The process of insuring a block of flats is complicated, as there are many factors for consideration of compensation in the event of damage. Unlike a vehicle or personal asset which can have an easily determined value, a block of flats or apartment block is not as simple. The valuation of the building alone can be derived from a variety of methods, from BCIS tables to certified chartered surveyors. Then services, tenants and building staff all have to be factored in additionally.

We’ve partnered with some of the UK’s leading block of flats insurance brokers, who will ensure your policy is tailored to cover all potential risks, for all affected parties. Whether the properties are purpose built or conversions, insuring individual flats or the entire block, or the tenants are leaseholders, DSS tenants or a mix of both, your policy will be specific to your requirements.

You will have the option of including or excluding contents insurance on your policy, meaning the costs incurred by sudden loss of water or damage to fittings and furniture by tenants can be covered. As well as loss of rent cover, as this may become an issue if tenants need to be provided alternative accommodation while repairs occur, having an impact on both rental income.

Fill in our easy quote form, and we’ll find you the best UK brokers for block of flats insurance.

Frequently Asked Questions About Block of Flats Insurance

    • What is block of flats insurance?
      Block of flats insurance is a type of coverage aimed at offering landlords cover for multiple habitations that are located in one building. It can help insure against risks to the building itself as well as those presented by tenants - such as refusal to pay rent or criminal damage committed by current or previous tenants.
    • Do you need building insurance in a block of flats?
      Building insurance is something that many people in the UK overlook when purchasing or renting a property. It is essential for owners of flats, particularly those in a block of flats, to have building insurance.Building insurance provides protection for the structure of the flat and any permanent fixtures or fittings. This includes any external structures that are part of the building such as garages, sheds and walls. It also covers damage caused by events such as fire, storms, floods and vandalism.If you are a landlord of a block of flats, it is important to ensure that each tenant has the necessary cover against any accidental damage they may cause to the property. Without this, you may be liable for repairs or other costs should an incident occur.
    • What does buildings insurance cover in a block of flats?
      In addition to providing cover for the actual building and its structure, buildings insurance in a block of flats typically provides protection against a number of other potential risks, including loss of rent or damage caused by tenants. It also covers the cost of liability for any injury to third parties, as well as any legal costs incurred in the event of a dispute. In some cases, buildings insurance may also provide cover for communal areas and furniture within the block.
    • Who is responsible for insuring a block of flats?
      When it comes to insuring a block of flats, the responsibility falls mainly on the landlord or owner. In order for a building to be properly insured, the landlord or owner should acquire a property owners insurance policy. This type of policy will provide coverage for any damages or losses that may occur to the building, such as damage from fire, theft, vandalism, or other similar occurrences.
    • Who pays insurance excess for a block of flats?
      When it comes to insurance excess and a block of flats, it is important to understand who is responsible for paying the excess. Generally, this is determined by the terms and conditions of the insurance policy in place. If a tenant is responsible for any malicious or accidental damage they cause to the property, then they will also be responsible for paying the excess. In this case, the money is usually paid by the tenant as part of their tenancy agreement.In other cases, the landlord or managing agent of a block of flats may be responsible for paying the excess.

I completed one simple form on the QuoteSearcher website and I received three excellent quotes. This was exactly what I was looking for!

James Kenneth - Carlisle

I just wanted to say how impressed I was with the ease in which I managed to purchase my very reasonably priced insurance online.

Jenny Doulton - Lincoln

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