Blocks of flats come in different shapes and sizes just like the risks they bring. Whether you’re a management company, the freeholder or leaseholder we’ll help you find insurance tailored to your needs.
We can help you find quotes from a panel of specialist providers. Simply click the green button to get your quotes now.
Available types of cover include:
- Building insurance
- Liability claims
- Contents insurance
- Loss of rent
Benefits of getting quotes online include:
- Multiple payment options
- Expert advice
- Instant documentation
Block of Flats Insurance FAQ
Is insurance necessary?
If you own a block of flats that you let out then having the right insurance in place is vital. When you’re a landlord it’s your responsibility to make sure the flats are suitable for living in. Although you might take every precaution to make sure that no problems arise, you’ll still need cover in place to prepare for unforeseen circumstances.
You can tailor your cover to your exact needs and cover as many or as few properties as required.
It’s also a very good idea to read up on the legalities of letting property in order to avoid disputes with tenants and other issues.
What type of policy is best?
The type of policy you get is down to your own preference. You’ll certainly want to make sure you have cover for the building itself as structural damage is usually the most costly to repair. In addition to this you can also get cover such as contents insurance, liability cover, legal expenses and loss of licence.
What about unoccupied property?
If you have unoccupied property then you can cover it with an unoccupied property insurance policy. Unoccupied property is at considerably more risk so it’s very important to make sure you have the right type of cover for any unoccupied property you have.
How much will cover cost?
This is hard question to answer since it will vary quite a bit from one policy to the next. Some of the main factors that affect the cost of an insurance policy for a block of flats are:
- Where the flats are located
- Whether they’re furnished or unfurnished
- The level of cover you get
- How you pay for your cover (monthly or annually)
- How secure the building is
Types of insurance for flats
You can get a special type of cover for unoccupied flats that will ensure your property is protected when it’s unoccupied for an extended period of time.
- Building insurance – Building insurance is vital when you own a block of flats. It will protect your property for structural damage, for example if it was damaged by fire or a broken pipe. It’s your responsibility to ensure the building is safe when you have tenants too, so building insurance is a must.
- Contents insurance – If you let out your property furnished then getting contents cover is a good idea. It will ensure that you’re compensated if your contents are damaged or stolen.
- Liability claims – Liability claims are always a risk when you let out property. They might come from your own tenants or from a member of public. In either case you want to be sure that you’re protected in case a liability claim goes against you. In addition to this you can also get legal expenses included in the policy to help you fight a claim in court.
- Unoccupied property insurance – If you have unoccupied flats, whether it’s a new build or they’re being renovated, then you need to get an unoccupied property insurance policy. Flats that are unoccupied face greater risks so it’s essential you get the right cover.
Why get block of flats insurance online?
There are some key benefits to getting insurance for a block of flats online. These include –
- Amend your cover needs easily – When getting cover online, you can easily add or remove cover options as you need. This is very useful when taking out a policy for a block of flats since this type of cover is generally highly tailored to the needs of each individual.
- Get quotes from different providers – Getting quotes online is very easy and just requires you to fill out one quote form in order to get policies from a range of different providers.
- No hard sell – Another big benefit of getting quotes online is that you don’t have any hard sell. This is not always the case when contacting providers by phone so if you’re looking to get quotes in a pressure-free way this is ideal.
- Instant documentation – When you take out cover online, you also benefit from receiving your insurance documents immediately via email.
You can get legal expenses included in a landlord insurance policy so you’re able to get the best help if you needed to fight a liability claim in court.
How to save money on block of flats insurance
If you’re looking for insurance for flats online then you’ll want to take any steps you can in order to reduce the price you pay. Below are some of the best ways to do this –
- Make the property secure – The security of your building will always be taken into account by insurance providers so if you want to save money on your policy then making your flats as secure as possible is a very good idea. There are many ways to make your flats secure, including CCTV cameras, security lighting and access control.
- Pay annually rather than monthly – Although paying monthly enables you to spread the cost of your cover, if you can pay annually then the majority of insurance providers will offer you a good discount for doing so.
- Be selective with tenants – Being selective with your tenants is very important from an insurance point of view. Hiring unreliable tenants increases the likelihood of you having to make a claim and in turn will cause the cost of your insurance to rise.
- Increase excess – This is the amount you would have to pay when making a claim. Increasing your excess helps to lower the cost of your premium.
- Get as many quotes as possible – Getting quotes from different insurance providers will enable you to make an informed decision when choosing a policy. Instead of simply taking out a policy with the first insurance provider you contact, you can look through the different quotes and choose the one that’s best.
Get block of flats insurance quotes now
If you’re looking for insurance quotes for a block of flats then you’re in the right place. To get quotes from a panel of specialist providers now simply click the green button below. Once you’ve provided the required information, you’ll then have access to your quotes. All you have to do is choose the best one!