Lifesure – Using our experience to your advantage
As a specialist broker we have access to a number of schemes and insurers that are specific to owners of blocks of flats.
We understand that each block of flats is different, whether it is because of the number of flats or the location. Subsequently each of the policies varies according to the level of cover that you require.
All of the policies cover as standard –
- Fire, explosion, lightning, earthquake, storm, flood, ground heave and landslip
- Smoke, riot or malicious acts
- Escape of water or oil, theft or attempted theft
- Fixed glass and sanitary ware
- Accidental damage to cables, pipes and tanks
- Trace and access caused by escape of water or oil
- Temporary accommodation
- Emergency access / landscape gardens caused by a member of the emergency services
- Unauthorised use of metered electricity, gas or water
- Property owners’ liability or legal liability under the Defective Premises Act
- Employers’ liability
Please bear in mind that this list is by no means exhaustive, and due to the vagaries of the policies we are unable to list everything here.
In order for us to give you an accurate quote, please call us directly on 01480 402475. One of our commercial advisers will be happy to talk through your circumstances and requirements and will offer you the best policy suited to your needs.
More information about public liability insurance and what it covers you for can be found here.
More information what employer’s liability insurance covers you for can be found here.
Please note that at this time we are unable to offer cover for owners who let any of their units for commercial purposes; and your residential units must either occupied by leaseholders and/or only let out on private rental agreements (directly between the landlord and the tenant).
As with all insurance policies there will be exclusions and conditions attached. The level of cover that you choose will determine some of the exclusions and as we have a range of insurers, the exclusions and conditions vary between them. Talking to one of our advisers will ensure that you have the policy that best suits your needs.
Please make sure that you read your policy documents for the full list of exclusions and call us if you have any questions.
As an owner of a commercial property, your landlord insurance requirements are going to be different to those of a residential property.
Please follow this link to our commercial property insurance page for more details.
These are the sample policy documents for the blocks of flats insurance policy.
For Aro policies bought after 1st May 2018
For Aro policies bought before 1st May 2018
Our landlord advice library contains articles and blog posts on a wide range of landlord related topics including start-up advice, finance for landlords, managing tenants and health and safety.
To access the library please click here.
The government have produced a booklet on the Regulatory Reform (Fire Safety) Order 2005 which you may find useful for your property and which is available to download.
What is the difference between “loss of rent” and “rent protection”?
Loss of rent is a normally a standard policy extension to any policy covering a property that you do not occupy yourself. This will cover your loss of earnings (earned from taking rent) following a claim that renders the property uninhabitable. A rent protection or rent guarantee policy is a separate policy that you can take out to provide cover for your loss of rent in the event that your tenant does not pay (subject to the conditions, exclusions or warranties applicable to that policy).
What is the difference between market value and rebuild value?
The “market value” of a property is the cost of the land; the cost of building the property plus any additional amount added based on location & local amenities (amongst other variables) that may determine the purchase value of a property.
The “rebuild value” of a property is just the cost of the building materials, the labour costs incurred in building a property, plus the cost of clearing the site of debris following a claim and any subsequent fees and costs such as legal fees, surveyors costs, architects fees, etc. The latter is what insurers will use to calculate your insurance premium and determine the policy terms, as it gives a better reflection of the “risk” the insurers are taking on insuring the property.
What is the average amount of public liability I need?
There is no “average” amount for public liability insurance. The limit of public liability insurance you choose should reflect the size of your business and always be adequate to cover the worst possible scenario for a claim that you could cause. For example, a tradesman working solely on empty domestic houses with a total value of £100,000 far away from any other third party person or third party property which they might injure or damage, might consider a lower sum insured than a tradesman working on a school with a £2,000,000 value whilst there are children in attendance.
What is property owner’s liability cover?
Property owner’s liability cover is public liability insurance covering your legal liability against claims arising from the ownership of your property, including liability incurred under the Defective Premises Act. Property owner’s liability insurance will cover costs and rewards incurred by you through claims brought against you due to the injury of a third party or damage to third party property either caused by, or on the grounds of, the property.
What is employer’s liability?
Employer’s liability will cover costs and rewards incurred by you through claims brought against you for the injury of an employee or damage to employee’s property for which you are legally liable for.
IMPORTANT NOTE: Employer’s liability is a legal requirement of any person or company that employs another person (whether you pay them or not). To find out if you are exempt or not please check the Employers’ Liability (Compulsory Insurance) Act 1969.
Why do I have an employer’s liability certificate with my landlord insurance?
If employer’s liability insurance is included on any type of policy that you buy, it is a legal requirement that the insurer provide you with an employer’s liability certificate. This cover is sometimes included on a landlords insurance policy to protect you against costs and rewards, incurred by you, through claims brought against you for the injury of an employee for whom you are legally liable for. Employees may include domestic staff that work on your property, who may not necessarily be classed as a third party, as you are employing them to do a job.
If you’d like us to contact you closer to your renewal date, please leave your details below and a Lifesure adviser will be in touch in due course.