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Block of Flats Insurance - Single Flat Insurance - Converted House

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Specialists in Block of Flats Insurance & Single Flat Insurance

Whether you are a flat owner in a Converted House or Purpose Built Block of Flats or even a Single Flat it is important to have the right Insurance. We at Crown Insurance have many years experience ensuring our Policyholders with Flats are adequately protected and paying the Best Building Insurance Premium possible.

Our Flat Insurance Policy will provide you with all the necessary cover that you would expect to find in most Blocks of Flats Insurance. Whether your flat is tenanted or is your permanent home our range of policies provides owners such as Residents Associations, Small Management Committees and Leaseholders with Building Cover, Contents of Common Parts, Property Owners Liability and many other features. In most cases your flat would be insured as part of a block policy, however in some circumstances residents may not have organised a Management Committee, in which case each flat will be separately Insured.

We have negotiated a facility where a Single Flat can be Insured separately. Please click on to our Instant Online Quote & Buy Facility Below

                                                          

Please email details of the Block of Flats to be Insured. One of our experienced Underwriters will contact to discuss various options open to you.

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Rejected Insurance Quotes, Go To www.refusedhouseinsurance.uk.com

 

For Block of Flats Insurance or Single Flat Insurance Tele: 01784 436262

 

Buy to Let Insurance for Landlords

Buy to let insurance or landlord Insurance, for residential properties, the term refers to a form of building Insurance that you will be required to effect, before your lender will release funds to you for the purchase. There are other products that are sometimes referred to as Landlord Insurance products but we will deal with them later as Building Insurance (sometimes with Contents added) is generally the policy most persons are interested in buying.

The Cost of Buy to Let Insurance - the price you will pay for your landlord insurance will vary from insurer to insurer, most will require a fairly similar set of "underwriting information" and based on your answers, a premium will be provided. The most important rating factors for this type of policy include, the post code, rebuilding cost and the type of tenant that occupies the property. When phoning for your quotation or completing the online form, you should have a good idea of the rebuilding cost, if you are obtaining a loan on the property, this information will be provided by the lender, usually on the valuation report. It is vitally important that you insure for the full reinstatement cost of the property. Although buildings insurance is the most popular form of policy purchased by a landlord, there are a number of other Insurance covers which could be considered. There is no legal requirement to purchase any it is a matter of personal choice. The following are available:-

  • Landlords Contents Insurance - this cover can be purchased as an additional section under the Building policy or in some cases (where you are not responsible to insure the building) as a stand alone product. The policy will cover the Contents within the premises owned by the policyholder for the use of the Tenant. Remember that this policy will not cover Tenants Contents insurance , they must arrange this cover themselves. One of the advantages of buying this policy is that it will provide you with the Property Owners Liability cover attached to the ownership and supply of the Contents.
  • Legal Expenses Insurance - becoming a Landlord can be a very daunting and complex experience, the purchase of Landlord Legal Expenses cover can help to alleviate some of the worries. A policy can be obtained that offers cover for Legal Expenses following a breech of the tenancy agreement, cover can usually be extended to included Rent Arrears Pursuit and Legal Defence cover.

Let Property Insurance Tips - most landlord buy to let insurance policies have their policies based on a fairly standard let home insurance wording, the perils are almost identical, with the main alteration being that cover in respect of” loss of rent” is covered rather than “Alternative Accommodation cover” .It should be remember that cover under this type of policy will be provided for loss of rent caused by an insured peril such as a fire or a flood, it will not cover you for tenant default. There is an additional policy for loss or failure to pay by the tenant, you will need a separate policy, typically referred to as a rent guarantee policy.

The amount covered under a Flat Insurance buildings insurance policy in respect of loss of rent is usually 20% of the sum insured, for example, if your sum insured is £125000, you will have a loss of rent sum insured of £25,000. Make sure this is adequate for your needs. Always check your policy wording carefully and make sure that there are no particular exclusions. When renting property many people worry about damage actually caused by the tenant, whilst it is possible to include Accidental Damage, it is not usual (although not impossible) to have cover for malicious damage by the tenant. Policy wordings are known to exclude damage caused by persons legally entitled to be in the property. So if the tenant manages to break the bath or wash basin or some glass in a door, then a claim can usually be made providing of course you follow your insurer’s claims conditions.

When insuring landlord contents, you will only be able cover those items deemed to be landlords contents (those contents which you own and are supplied with tenancy) If the tenant has any contents of his or her own, or any personal effects, they will have to make their own arrangements for cover. Under most landlord insurance policies, cover in respect of Theft is restricted to forcible and violet entry, so for a claim to be valid there must be signs of a break in. When calculating your buy to let insurance premium, the same principles and criteria are usually applied to rating, the insurer will want to know its post code the construction and type of tenant, wether employed or DSS etc The rebuilding cost will also be required as will details of any previous claims.  

Landlord buy to let insurance policies may come with certain extra conditions, not seen in a standard home insurance, you may have to confirm that you are letting the property with a rental agreement in force (such as a short hold tenancy agreement) and that you will be following all the rules and regulations relating to renting property, such as having the gas and electrics checked and making sure that the furniture reaches certain standards. If you are intending to rent your property as a HMO (house in multiple occupation)

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