Insurance for Flats

If you are a home-owner and you own a house, it's very simple to ensure it against all kinds of risks. All you need is building insurance that would cover bricks and mortar. You may also be in need of a content insurance cover to protect your personal belongings. Things are a little bit different in the insurance for flats. If you live in a flat you can skip the building insurance but you still need a content cover. If the flat you are living in is leasehold flat then the building should be insured by the landlord who owns the freehold.

In most cases, it's not your responsibility to take a building cover for the flat although one might be paying for premiums through the service charges. Over the years, there is an increase in the number of leaseholders who have come together so as to buy a share of the freehold. This certainly gives you a little more power and control over the property but you will have more responsibilities such as getting the building insurance cover. It’s cheaper and simpler to take a block insurance cover to protect the group although some freeholders tend to do this individually. The building and content policy may cover you against the following:

1. Accidental damage

Many insurance covers do not automatically include accidental damage as a standard. You are therefore required to pay for an additional premium fee. Accidental damage happens when a one-off incident which should be unintentional causes damage to your property. The accidents may be as a result of a fire, leaking water pipes or even faulty electricity. The insurer will reinstate your building previous condition if this accident takes place.

2. Accommodation

The policy may cover your alternative accommodation for you and your family if there is an occurrence of an accident and your home becomes uninhabitable until the condition of the building is rectified to the previous condition it was before the accident took place.

3. Household content 

The content policy may cover your general household contents that you keep in the house. It protects your personal possessions against damage, loss or even theft from burglars and thieves. These possessions include money, electronics, furniture and even your mobile phone.

4. Home emergency

By adding this type of cover, one is guaranteed to enjoy a 24-hour first aid protection for their homes. You can call experts at any time when you are in need of any kind of help so as to get back-up and running. They will be very handy to protect and secure your property following a forceful break-in or even fixing your heating during the winter period, 24 hours a day.

5. Legal expenses

Legal disputes happen all the time whether it's over home rights and boundaries. The legal procedures are costly which means many people tend to fear taking legal actions. The insurance covers your legal expenses when you have disputes with other parties on matters regarding the property. 

It's ultimately the decision of the occupants to know which kind of insurance to purchase that would effectively meet their needs. You should seek the advice of a professional broker to know what kind of cover suits you the best.

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