Liability Insurance - flat in block

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    Liability Insurance - flat in block

    Can someone tell me if it is usual/common to have 3rd party liability insurance included in the communal insurance paid via service charges?

    Thanks

    #2
    Cover under a block of flats building insurance policy will normally include cover for building re-instatement, public liability , employee liability, 20% alternative accommodation , subsidence , landlords furnishings in hallways etc.

    Any leaseholder can write to the managing agent and obtain a summary of the insured cover within 30 days .

    Some agents may insure under a property owner's policy which does not include the whole package of covers.

    Comment


      #3
      3rd party liability is a broad term but its not uncommon to have this to protect against the actions of an unrelated party who might have insufficient resources or funds, or insurance, for action that causes a loss to a building. it can also be regarded as liability insurance for protection such as legal expenses where a person takes action against the insured.

      Whether it is recoverable depends on the terms of the lease but very often it is treated as free from the insurer or broker. While it is of course not free, declining it usually involves no reduction in premium as the insurance is offered as a package by an insurer for insurers and brokers to sell.
      Based on the information posted, I offer my thoughts.Any action you then take is your liability. While commending individual effort, there is no substitute for a thorough review of documents and facts by paid for professional advisers.

      Comment

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