Checking You Have Enough Cover Other policies are written on an "All Risks" basis and by definition the cover provided is wider and covers the known and potentially unknown, not restricted to certain specified perils. “All Risks” cover is slightly more expensive but is worth seeking out as the level of protection offered is much wider. Terrorism Terrorism Insurance covers damage to the buildings caused by an act of Terrorism. It's worth remembering that Terrorism Cover is not automatically included unless you specifically ask for it and pay extra premium to reflect this. Is your insurance policy adequate for the needs of your block? Before the worst happens and you need to make a claim, our essential guide to insurance will help you check that you have the right cover in place. Ensuring your block is adequately covered is a major responsibility and ensuring a competitive price as well as comprehensive protection for property owners can be quite a challenge. Policies for blocks of residential flats can contain many different sections and we'll try and demystify them for you! The Buildings Section This section covers the actual building itself, which is often referred to as the "bricks and mortar". Cover extends to all areas of the buildings including the individual flats and apartments, although it does not cover the occupants contents as these are the responsibility of your individual residents.
Terrorism is available from a range of insurers which is offered on an all risks basis including damage caused by nuclear, biological, chemical and radiological means. Please note that there are products available in the market place that do not include these extra levels of cover. Whilst this policy extension comes at a cost, it is intended to protect you from your obligations under the lease. If your lease states that you should insure against all normally available insurance perils or provide comprehensive insurance then, by not purchasing this extension of cover, you may be failing to meet the requirements of the lease.
The Buildings Section generally covers you against specific risks. A "risk" is something that may happen to the block, such as fire, flood, malicious damage or escape of water and so on. Some policies are written on a "Specified Perils" basis which means that the cover the policy provides is limited to the perils listed in the policy.
London Flats Insurance is a trading name of Residentsline Limited who are authorised and regulated by the Financial Conduct Authority: FRN 305998. Registered in England & Wales CRN: 03874789. Registered Office: 29 Waterloo Road, Wolverhampton, England, WV1 4DJ.
0207 993 3034 info@londonflatsinsurance.co.uk www.londonflatsinsurance.co.uk