Sinead Campbell, of London Flats Insurance, discusses the Insurance needs for blocks of flats.

Finding a comprehensive insurance policy can be a big task for anybody managing a block of flats or apartments.

This is because blocks of flats tend to need specialist insurance policies to account for all the different features, floors and communal areas inside the property itself. This could even include insurance for communal areas such as swimming pools or tennis courts, or features which are unique to the property.

So, who is responsible for finding insurance?

This answer depends on who is managing the block of flats or apartments. There are multiple entities who may be charged with handling the day-to-day management of the block, such as:

• Block owner
• Right to Manage company
• Residents’ Management Company

What sort of insurance do you need?

Your insurance cover will depend on your block of flats or apartments. There are multiple types of insurance which you should look into to ensure your property has adequate cover, such as:

Buildings Insurance: This covers the internal and external communal areas of your block.

Directors’ and Officers’ Liability Insurance: This type of cover is especially important for Residents’ Management Companies as it protects their legal liability in the case of alleged wrongful acts.

Lift Insurance: This insurance covers the cost of bi-annual inspections and provides cover towards the cost of repairs.

Terrorism Insurance: Terrorism insurance covers the damage caused by an act of terrorism. This kind of speciality cover is important as your standard buildings insurance policy will not provide cover in the case of damage caused by a terror act.

Legal Expenses: This will provide cover towards the cost of legal expenses in case of legal claims made against injury, legal disputes and tax protection.

It is vital that each Residents’ Management Company ensures their block has suitable insurance cover in place; it is always best to invest in protection.

How can London Flats Insurance help?

London Flats Insurance can provide you with a comprehensive and competitively priced insurance policy for your block of flats.

These insurance policies include those listed above:

• Block of Flats Insurance
• Directors’ and Officer’s Insurance
• Lift Insurance and Machinery Breakdown
• Terrorism Insurance
• Legal Expenses
• Cyber Liability