Block of flats insurance

Block of flats insurance is for landlords that own – unsurprisingly - entire blocks of flats. The policy will provide comprehensive cover for the entire building, factoring in that the flats will either be leased or rented out by the freeholder. Block of flats insurance doesn’t just refer to large residential blocks – cover can be provided for commercial tenants as well as maisonettes or houses that have been converted into flats.

Insurance for blocks of flats can be complex, as there may be a number of parties that could have an insurable interest in the property. Whether or not you need to arrange cover for the buildings will depend on whether you’re the freeholder or the leaseholder, and what legal agreement you have in place. If you own the whole building and all of the flats within it, you are likely to be the freeholder and therefore responsible for arranging buildings insurance cover, or freeholder buildings insurance, for the property. If you own a lease on just one of the flats, you will usually only require cover for any contents you own. 

However, there are a number of different types of ownership and circumstances relating to flats that can affect who arranges the insurance. For example, in some cases separate leaseholders will team together to form a residents association or a ‘right to manage’ company. Once they take over the management of the building, the leaseholders will then be responsible for arranging buildings insurance, and the premium will usually be split fairly between all flats in the block. A block of flats can also sometimes have a managing agent who is appointed by the freeholder to manage the property day-to-day, including arranging insurance, so it’s important to check the agreement you have in place and what your responsibilities are before taking out block of flats insurance.

You may find that the standard covers provided by your block of flats insurance are not sufficient and that you would like to add on additional protection for your building. Endsleigh offer a range of optional extras which can easily be added to your policy, including:

• Rent guarantee and legal expenses insurance
• Employers' liability insurance
• Terrorism cover
• Engineering and inspection cover, including passenger lifts
• Extended legal expenses cover - including tenant disputes

Arranging your block of flats insurance doesn’t have to be a long-winded process. With Endsleigh, all you have to do is call our UK based team on 0333 234 0039 or click ‘arrange a call’ to fill out an enquiry form. We’ll then take the time to get to know you and your property or portfolio so we can ensure we’re getting you the right cover, at the right price from our leading panel of insurers. Once you’ve received your quote simply let us know when you want to go ahead and we’ll get you set up.