Why building insurance is so important?
Taking the buildings insurance for block of flats is the obvious option whether you are a landlord or the owner of the house. The insurance covers you if anything happens to your mortar and bricks as opposed to the insurance of the contents, which only covers the damage of your valuables and furniture. Most of the time, mortgage lenders might not approve the mortgage unless the adequate insurance of the building is with you. Why the insurance of building is essential? If the house gets burnt or if any structural damage takes place, everything will get covered in the building insurance. For the landlords, it is essential to have the building insurance for flats to make sure the building is covered fully if the damage takes place. For instance, at the time of storm if the tree smashes the property, leaving it uninhabited for some of the weeks, the insurance of the landlord will only cover the loss cost in rental income, whereas the insurance of the building will only cover the c