Block of Flats Insurance
At 1st Choice, we understand that owning and renting a flat or a block of flats to residential tenants comes with risks. That’s why we find the perfect block of flats insurance policy to protect your assets and financial future. We find and compare buildings insurance for flats, finding the best block of flats policy for your needs, for the best price. Get a quick quote!
What is block of flats insurance?
Property insurance comes in many configurations, with individual homeowners and property investors often needing to combine individual protections under a single policy umbrella. Block of flats insurance, also known as apartment insurance, is a form of property insurance designed to protect people who own apartments, flats, or any buildings that feature multiple occupancies. Houses of multiple occupancies (HMOS) are considered a high risk by insurers, with property owners needing to ensure coverage to protect themselves against a range of loss or damage scenarios. Here at 1st Choice Insurance, we provide access to HMOS cover that leaves nothing to chance.
Who needs block of flats insurance?
Apartment insurance is recommended for anyone who owns a multiple occupancy building and needs to ensure an adequate level of insurance protection. Block of flats insurance is much more than simply buildings insurance for flats; it also includes additional coverage options. Only a specialist insurance provider is familiar with the multitude of applicable risk factors, with coverage options likely to include loss of rent, loss of income, landlords’ contents, employers’ liability, legal protection, and alternative accommodation cover. It’s also important to protect yourself against the cost of emergency repairs and any cases of malicious or accidental damage from tenants.
HMOS coverage is more complex than standard buildings and contents insurance, with each case needing to be analysed on its own merits. For example, a small apartment block or students’ boarding house may need different coverage options than a large residential tower. Different types of tenants and rental agreements can also change the situation, with students, professionals, or DSS tenants all likely to have unique needs from an insurance policy. Here at 1st Choice Insurance, we have the experience and expertise to create a tailored block of flats insurance policy that meets your individual needs as a homeowner and landlord.