Block Of Flats
Insurance

No1 Provider Of Blocks Of Flats Insurance.

If you are the residential management company for a block of flats, managing agent or landlord of the flats and are looking for insurance on the flats then look no further. We can arrange cover for your buildings, landlords contents, loss of rent, and property owners public liability cover.  As insurance brokers we search a specially selected  panel of UK insurance companies to find you the best deal on the market. Why search around when we can do the searching for you.

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The Right Insurance Policy - What To Insure?.
If you are looking to insure a block of flats then a standard household insurance policy will NOT give you the correct level of cover or use and if you had to make a claim you will not be paid.  You must make sure you have a residential property owners insurance policy specifically for blocks of flats.  A block of flats is a building which usually has a communal entrance and then branches off into separate self contained individual flats.
We are unable to insure a single flat. The reason for this is if everyone takes out their own individual buildings policy and the block burns down for example there is going to be a number of insurers involved, each one arguing over who's responsible for what. And what if one of the owners fails to insure their flat correctly or at all?. You will find that the property will be unable to be rebuilt.  This is why we will only cover the buildings of a block of flats under one managed policy.

There are a number of things you should look at covering under the policy, below are the main ones.

• Buildings.  You should insure the property for it's full rebuilding costs, including domestic outbuildings, gates and walls. You should also take in to account architects fees and debris removal. We can insure purpose built blocks or a building which has been converted in to a block of flats.

• Landlords Contents.  You are not responsible for covering the tenants contents but if you have contents in any communal area then you may wish to insure these, i.e. carpets, furniture, etc.

• Property Owners & Public Liability.  All policies should include property/public liability and will normally be £2 million worth of cover.  This is vital to have and will cover you in the event of for example a resident getting injured whilst in the property and you can be found liable.

• Loss Of Rent.  If the property becomes inhabitable due to an insured peril, e.g a fire and the property cant be rented out for say 6 months, the owner will lose out on the rental income they would have had Most policies will automatically cover for up to 20% of the buildings sums insured although with some insurers you have to pay extra for this cover. Check.

• Directors & Officers Cover.  This protects directors, officers, managerial and supervised employees against claims arising from their actions or decisions made on behalf of their company. If defending a claim the cover also reimburses the quite often high legal costs.  This cover is not standard on a block of flats policy and a separate policy would be required.

• Engineering Inspection. Again not automatically covered, if the flats have a passenger lift then under the Health & Safety Regulations there is a duty on Companies to ensure they are formally inspected every 6 months. This cover would provide you with the regular inspections you require.

Why Use Us?
GJT Hodgson Insurance Services have been established since 1977 and have over 30 years experience in the property owners insurance market.  All our staff are experienced and fully trained to deal with your insurance enquiry and using a selected panel of the best UK insurance companies including Norwich Union, Zurich, AXA, Fortis, Towergate, NIG Insurance, Royal and Sun Alliance, amongst others we are ideally placed to offer you the best policy on the market at the most competitive price.

What Else Can Affect My Block Of Flats Insurance Policy?
There are a number of things you need to look at when taking out a block of flats insurance policy. Below are some of the things which may affect your policy.

• Flat Occupancy.  The type of person(s) that occupy the flats can seriously affect the premium on your insurance policy.  Insurance companies like owner occupied or flats being let to professional working or retired persons and this will give you the cheapest rate.  If any of the flats are let out to students, the DSS, housing association, asylum seekers or the local authority then make sure the insurers are aware as although it will result in a higher premium, if they aren't told and you have to make a claim you wont be paid out.

• No Claims Bonus.  Like on motor insurance if you have had the property insured for a while without any claims then most insurers give a discount for having no previous claims.

• Area.   If the flats are in the middle of a city it is more than likely going to cost more to insure than a property on the outskirts which has a lower crime rate.  Before you purchase a property it's advisable to make sure that the property you are buying is not in a high risk area.  Also properties right next to rivers, watercourses and cliffs, the sea, can affect the premium, especially properties on flood plains.

• Excess.  The excess on the policy is the amount that you will be responsible for in the event of a claim.  Most policies have a standard £100 excess although for certain areas these can increase to £ 500 and above.  You can also get further discounts on your policy by taking an extra voluntary excess, although increasing the excess too much will not give you significant savings.

For a cheap block of flats insurance quote simply complete the quotation form by clicking on the link below.  Alternatively, give our office a ring on 01288 353999 where a member of staff will discuss your insurance requirements. 

Why Search Around When We Can Search The Insurance Market For You