Landlord Insurance for Flats

Key Considerations When Insuring Your Flat Rental Property in the UK

Insure your rental flat properly by understanding how flat-specific risks impact landlord insurance policies.

Unlike houses, insuring flats comes with unique challenges like cladding safety concerns. This guide covers the key things flat owners need to consider when taking out a landlord insurance policy in the UK.

Understand the Lease Terms

The lease will specify insurance responsibilities for the flat’s freeholder. As a leasehold landlord, you may only need to arrange contents cover.

Check the lease – the freeholder usually insures the building, but confirm your obligations. Get a copy of their building cover policy.

Confirm Cladding Compliance

Insurers are wary of flats with dangerous cladding after Grenfell. Check your flat complies with current building regulations and fire guidance. Ask the freeholder for written cladding confirmation. Non-compliant flats can be very hard to insure.

FREE & no obligation – Quick online quotes

Compare Landlord Insurance for flats >>

Calculate the Rebuilding Cost

If your lease makes you responsible for insuring the building, get help from a surveyor to calculate the potential rebuilding cost. This should include all materials, labour, architects and surveyor fees. Rebuilding often costs more than the flat’s market value.

Factor in Flat-Specific Risks

Flats come with unique risks, like water damage from upstairs flats. Leaky pipes or overflows in other flats can impact your property below. Make insurers aware of these risks. Consider adding accidental damage cover too.

Understand Property Exclusions

Many insurers won’t cover flats above commercial premises or blocks with cladding issues. Other exclusions like having more than 25% of the block as student lets may also apply. Watch for blanket bans on certain types of flats.

Tailor Contents Cover

Most landlords furnish flats with white goods, furniture and kitchenware. Get an inventory with photos to help set the right level of contents cover. Remember, contents belonging to tenants aren’t covered under a landlord’s policy.

Check Liability Insurance Meets Requirements

Landlord liability insurance is mandatory in blocks of flats if lease terms require it. Ensure public liability cover meets or exceeds £5 million as legally required. Some insurers may push this up to £10 million for flats.

Keep Records of Repair Responsibilities

If repairs like burst pipes require cooperation from other residents, keep records showing you’ve notified the freeholder. Insurers may otherwise reject claims if they believe you failed to mitigate damage.

Consider Specialist Flat Insurers

Mainstream insurers sometimes impose unfavourable terms on flats. Seek out providers specialising in blocks and modern apartments. They offer a broader cover tailored to typical flat risks.

Comparing Top Insurers’ Landlord Flat Cover

Insurers have varied appetites for covering flats. Aviva may avoid older blocks while AXA landlord insurance provides specialist policies. Direct Line offers robust public liability limits. HSBC may impose restrictions like excluding top-floor flats. Quoting multiple providers helps find the right landlord policy for your flat.

Getting the right landlord insurance for a rented flat requires assessing the lease terms, liabilities, and property risks.

Specialist insurers with experience covering flats in the UK offer landlords the best chance of adequate protection.