Apartment Building Insurance
We can provide cover for Blocks of Flats used as holiday lets (either for owners use or rented to tenants, tenancies or holiday lets can be either be short term up to 6 months or long term up to 12 months) Cover is available not just in the United Kingdom but overseas in over 40 countries. The definition of a block or complex is fairly wide and will also include blocks on ski resorts for example. A broad variety of construction methods will also be considered.
Whilst it is fairly easy to obtain insurance for individual homes, for the owners of flats or apartments in blocks it is a different matter. Often a policy is offered, at the time of purchase of the flat or apartment or it is stated that cover has been arranged but it is difficult to obtain sight of the actual policy wording. Sometimes, when proof of cover is provided, the owner is left with the impression that the cover is not particularly wide, particularly when it comes to the public liability section of the policy wording. By insuring the block as a whole you can make sure that the correct cover is provided including communal areas which can often be quite grey if cover is offered on an individual flat basis. You can also make sure that facilities such as swimming pools are covered for liability. By grouping together with the other owners you may also find you can save money on the premium. In some cases we may also be able to obtain cover for a new development that has recently been completed and not yet fully occupied.
Cover can be tailored made to suit the country in which the block is located in and in most cases “local covers” can also be provided. Policy wordings are written in English and all administration and claims handling is performed in the United Kingdom. Usually premiums can be paid monthly if required, with the option of either sterling or Euros.
Building insurance for overseas flats will cover the fabric of the building (any permanent structure) used for domestic purposes within the grounds of the holiday home or complex. This includes, fixtures & fittings, lifts, domestic fuel tanks, including gas LPG & oil tanks, Lifts are also included (not against inspection to comply with any statute), swimming pools, gates, hedges, walls & fences, radio & television aerials, satellite dishes, their fittings and masts, wind turbines, fixed generators and solar panels, paths & rives, lakes and rivers within the boundary of the property are covered for liability only.
Cover is against a wide range of eventualities and the range of perils covered will be similar to those on offer in a standard United Kingdom policy wording. Earthquake covers and DASK cover can also be quoted but please always do ask about any country specific exclusions.
