BLOCK INSURANCE

We place block insurance policies on behalf of the Landlord through a professional, third party insurance broker.  Our broker strives to deliver the most comprehensive level of cover, at the most competitive price.

Our policies, and the level of cover provided, adhere to the recommendations of the Royal Institute of Chartered Surveyors and the Council of Mortgage Lenders.

We believe it is in everyone's best interest to ensure that all blocks are adequately covered, so that properties can be rebuilt, in the event of a major claim.

Please note that the Landlord's block insurance policy does not cover contents, or separate ‘Landlord’s cover’, if you are subletting your property.  You must arrange your own cover for both.

 

Freehold Managers are mandated to arrange the block insurance on behalf of the Landlord where the lease stipulates that the Landlord is required to insure the building. Our Insurance Team can check your lease for you to confirm the relevant clause.

Your lease is a legally binding document, and the insurance requirements will apply to all of the leaseholders within the block.

Freehold Managers adheres to the guidelines of the Council of Mortgage Lenders (CML) and the Association of British Insurers (ABI) when placing building insurance.

The insurance cover provided is a comprehensive buildings policy which protects the structure of the property including the walls, roof, ceiling, floors, doors and windows with outdoor structures such as garages and fences also included.

Buildings insurance will cover the property from resultant damages from a number of ‘insured perils’:

  • Fire
  • Explosion
  • Extreme weather circumstances, including lightning, storms and flooding
  • Earthquakes
  • Theft or attempted theft
  • Malicious damage or vandalism
  • Freezing or bursting of any part of the plumbing system
  • Falling trees, lamp posts, aerials or satellite dishes
  • Subsidence
  • Impact by vehicles or aircraft

For further information, please refer to the full policy wording, or key policy facts.

Terrorism cover is recommended by industry experts as an additional cover on any property.  As prudent Landlords, we require this on all properties that we have any insurance responsibilities on. In today’s increasingly uncertain political climate the threat of terror related attacks is very real and it would not be responsible for a property to not have protection against this.

 

Up until 2002 this sort of cover was included in most standard building insurance policies, however, with the rise of terror related attacks across the UK and the increasing cost of repairing the damage caused, this became a separate additional policy.

 

The price of terrorism cover is related to the risk level of the area as classified by the government agent Pool Re.  Neither the Landlord or the insurer has any say regarding the premium charged in relation to this cover. Further information can be found on Pool Re’s website.

Freehold Managers PLC can only place and administer insurance in accordance with the terms of the lease which will only refer to the placing of buildings insurance.  Freehold Managers will not therefore be involved in the placing or administering contents cover.

No need to sign anything, the policy is held in the name of your Landlord and automatically notes all other interested parties, including any mortgage lenders.

The certificates relating to your property will be available upon request, in accordance with the terms of the lease.

 

Please contact us here to request a copy.

The easiest way to make a claim is to email in to our Insurance Team with a brief explanation of the problem and the potential claim. We will then provide you with a claims form and details of the next steps.

 

Contact us here to inform us of any potential claim.

 

If the need is urgent and it is outside of our normal office hours, then you may wish to contact our brokers, A J Gallagher on: 08458 725 729.

When you sell your property, speak to your solicitor about the transfer of the insurance to the new owner. Your solicitor should then be able to handle the matter with the prospective purchasers and arrange any necessary refunds.

If the lease allows subletting and all necessary consents have been granted by the freeholders letting team, then the policy will be unaffected. You may however have issues with future claims if the necessary consent is not obtained, or if your lease prohibits subletting at all.

Many people find it convenient, or even essential to purchase additional ‘landlord cover’ for buy to let properties. Unfortunately we cannot provide this cover, nor can we advise which company to use for this.