Blocks of flats insurance

Blocks of Flats Insurance

Buildings insurance advice for blocks of flats, freeholders, managing agents and residential property companies.

Start with the exposure

Understand the exposure before comparing terms.

A block policy needs to reflect the whole building, shared areas, ownership structure and responsibilities under leases. We consider rebuild values, construction, occupancy and any unusual features before seeking terms.

OAK VIEW

Clear ownership, lease and occupancy information helps make sure the right interests and shared areas are presented.

Cover to consider

Built from the risk outwards.

Availability and scope depend on insurer acceptance and the terms offered for your business.

Buildings and communal areas

The insured property should include the structure and shared areas for which the policyholder is responsible.

Property owners' liability

Liability exposures may arise from shared entrances, stairs, lifts, grounds and maintenance responsibilities.

Loss of rent and alternative accommodation

The policy basis should reflect the leases and the financial impact of an insured event affecting flats or shared facilities.

Practical buying guidance

Shared responsibility needs a clear insurance arrangement

A freeholder, residents' management company and managing agent may each have different responsibilities. Establish who arranges the building cover, whose interests need noting and how leaseholders receive insurance information. The lease and applicable legal obligations need separate professional consideration.

Describe the entire block: construction, number of flats, commercial areas, shared facilities and any known building-safety issues. Give accurate information about inspections, remedial work and claims, including repeated escape-of-water incidents.

A buildings policy does not generally replace each resident's own contents arrangement. Alternative accommodation, loss of rent, communal contents and property-owner liability should be checked as distinct cover provisions.

Compare the wording, not just the premium

Compare water-damage excesses, accommodation limits, communal interests and claims handling. Check disclosure and information-sharing requirements rather than treating the insurance schedule as the whole arrangement.

For more detail, read Commercial property underinsurance: why rebuild value matters.

Common questions

Useful answers before you approach the market.

Who should arrange the block policy?+

The leases and ownership structure usually determine responsibility. The policyholder and interested parties need to be identified.

How should the rebuild value be set?+

A current professional reinstatement valuation can help avoid relying on market value or an outdated estimate.

Can mixed-use blocks be considered?+

Yes, subject to insurer appetite. Commercial units, occupancy, fire protection and the proportion of each use must be declared.

Speak directly to Oak

Talk to Oak about blocks of flats insurance.

Tell us what you do, what needs protecting and when the policy renews. We'll take it from there.

Start an enquiry 0330 133 4386