If you live in a flat and insure your individual part of the building separately, we recommend that you act now. By far the best and easiest way to insure properties split into flats is on a combined buildings insurance policy.
Where a property is insured by a number of separate policies, it can cause problems in the event of larger claims, with insurers arguing about who is responsible for what. Particularly where there are common parts eg. Stairwells, halls etc, the cover can be inadequate. In addition to this, with no guarantee that your neighbour has insured properly, or indeed at all, you do not know if the combined insurance held would actually be enough to re-instate the property.
For purpose built blocks of flats policies can be set up for residents associations or the landlord of the property. As well as insurance for the buildings, engineering cover is available for lifts, employers liability for people working on/maintaining the property or gardens, communal contents and property owners liability.
