Freehold Flat already has buildings insurance - What (if any) LL Insurance do i need

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    Freehold Flat already has buildings insurance - What (if any) LL Insurance do i need

    The two bed flat i am about to buy is freehold with each of the owners having one share, as part of the yearly maintence fee it includes a element for the buldings insurance..... i will be letting the flat unfurnished.... so exactly what LL insurance do i need ? If the whole block burns down then i guess the current buildings insurance will cover it... but what if there is a fire/flood etc in the flat its self and even worse it affects the ground floor flat ?

    #2
    I have a similar situation and do not buy any further insurance but then I do organise the blocks insurance cover and know that it is adequate.

    If there were to be any damage the blocks insurance should pay for it - ask to see a copy of the policy. Luckily these events are rare.

    Do make a point of telling your tenants that they need contents insurance for their own personal possessions.



    Freedom at the point of zero............

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      #3
      If the whole property is insured then it doesn't matter if there is an incident affecting just one flat or all the flats together. As the above message states, check the policy carefully to see what is and isn't covered.

      If the property is unfurnished then you probably don't need contents cover although some landlords take out a minimum cover policy to protect carpets, curtains, etc. You tentant should obviously take out cover for their own contents.
      Steve Smith - Company Director at a leading Landlord Insurance broker with 20+ years experience in the industry
      LandlordZONE Verified Poster and Topic Expert for Landlords Insurance since 2009
      See my profile for contact details

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        #4
        Cheers for that, i will check the policy, my thought were along the lines of the kitchen and its units... the bathroom.... carpets etc, ie in case of fire, i doubt the buildings cover would deal with this.

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