Insurance for Landlords

Sydaton

Member

Join Date: Aug 2019

Posts: 99
#1

Insurance for Landlords

22-06-2022, 15:12 PM

Does anyone have a source where I might be able to buy Landlord Insurance relating to:

my personal ownership of the freehold of a small block of apartments with all units let on long leases - held jointly with 1 other
my personal ownership of the leasehold of a 1 bed unit with a secured tenancy - held jointly with the same 1 other
my personal ownership of the leasehold of a 2 bed unit with an AST tenant
my ownership via my own limited company of a 3 bedroom freehold house let on an AST

I would be happy with a £10k excess so am only looking for cover for "life changing" events.

Any thoughts welcome.

Thanks in anticipation.
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Sydaton

Member

Join Date: Aug 2019

Posts: 99
#2

24-06-2022, 06:29 AM

This would be my first time buying insurance - do many landlords not bother with it?
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Building Insurance liability in Block of Flats

by jp13abk

Hello everyone,

I am a leaseholder in a purposed built block of flats that has 16 flats. The freeholder appointed a company to manage the building and communal areas.

The service charge that we (leaseholders) pay to the managing company includes a Building's Insurance. My questions...
- Channel: Insurance Questions
30-06-2022, 11:04 AM
Reply to Building Insurance liability in Block of Flats

by flyingfreehold

if for example everything above floor joists in an upstairs maisonette was demised to the lessee, ie to include all structure then the lease would be perfectly okay even if not in accordance with Council of Mortgage Lenders preferences. Generally lenders dont like leaseholder to insure covenants, but...
- Channel: Insurance Questions
30-06-2022, 23:35 PM
Reply to Building Insurance liability in Block of Flats

by jp13abk

Here are the two remaining lease sections that I refer to in my questions above....

2 Photos
- Channel: Insurance Questions
30-06-2022, 20:13 PM
Reply to Building Insurance liability in Block of Flats

by AndrewDod

It is still a nonsense. It is asking lessee to insure a portion of something which lessee cannot insure....
- Channel: Insurance Questions
30-06-2022, 20:13 PM
Reply to Building Insurance liability in Block of Flats

by jp13abk

Apologies, for some reason the photos I uploaded earlier were too small...

2 Photos
- Channel: Insurance Questions
30-06-2022, 20:10 PM
Reply to Building Insurance liability in Block of Flats

by AndrewDod

Your lease makes no sense whatsoever and was drafted by an idiot.

Insure the "interior" to a value of a 1/16 of the whole "block" - what the hell.

The building sounds effectively uninsured.

etc......
- Channel: Insurance Questions
30-06-2022, 18:37 PM
Reply to Building Insurance liability in Block of Flats

by jp13abk

2 Photos
- Channel: Insurance Questions
30-06-2022, 17:26 PM
Reply to Building Insurance liability in Block of Flats

by jp13abk

I have re-read the lease and it seems clear: the interior of the flat must be insured by the lessee.

I've added screenshots of the relevant sections and I would appreciate if someone could confirm or correct my interpretation.
Section 4 - Lessee Covenants: lessee must insure the interior
...
- Channel: Insurance Questions
30-06-2022, 17:17 PM
Reply to Building Insurance liability in Block of Flats

by jp13abk

Thanks for your quick responses.

RentoRento it is a demised property. As you correctly mention, there are areas that fall under the responsibility of the lessee (I'll attach the relevant lease section once I get hold of it).

AndrewDod damage to (a) the structure of my flat...
- Channel: Insurance Questions
30-06-2022, 16:31 PM
Reply to Building Insurance liability in Block of Flats

by AndrewDod

And even if something is covered by a generic policy it does not mean that the FH should or can claim under that policy if the item is not his to insure under the lease....
- Channel: Insurance Questions
30-06-2022, 12:53 PM

Insurance for Landlords

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