Insurance Policies for blocks of flats
Darren Bagnall of Residentsline advises. There is a covenant within a lease or TP1 stating that the freeholder, Property Managing Agent or Residents’ Management Company (RMC) will have to ensure the property is in a ‘good state of repair’. In addition to this, most insurance policies will not pay for any loss or damage that is caused by …
How would failure to maintain your block affect your flats insuranceRead More
Darren Bagnall, Managing Director of Flat Living Insurance explains the pro’s and cons of buying your freehold. If you’re thinking about buying your freehold through Collective Enfranchisement, you may well be weighing up the pros and cons of such an undertaking. With everything from funding, general organisation and adhering to the statutory requirements of the …
Darren Bagnall, Managing Director of Flat Living Insurance explains what a leasehold flat or apartment is. The majority of flats in the UK are bought and sold on a leasehold basis. Present property law in England and Wales requires that flats be leasehold, although some are sold with a share of the freehold. Legislation introduced …
Darren Bagnall, of Flat Living Insurance, discusses external what to consider when insuring a heritage building and why it is important. We know that the complicated language and terminology used in normal insurance policies can be a challenge to read and digest. When it comes to policies for listed buildings, the jargon is even more …
Understanding Your Listed Building Insurance PolicyRead More
Darren Bagnall, Managing Director of Flat Living Insurance explains what constitutes a “competent person” when completing health & safety assessments. Fire Risk Assessments are a huge responsibility when it comes to managing a block of flats, but the law …
Fire Risk Assessors: What Constitutes a ‘Competent Person’?Read More
Darren Bagnall, Managing Director of Flat Living Insurance explains how choosing the best protection for your property is vital and how to get the best from your insurance broker or intermediary. As a director or officer of a Residents’ Management Company (RMC) choosing the right policies for your block is essential. Your fellow leaseholders are …
Storm Ciara is expected to cost up to £200m in insurance claims, storm Dennis figures are not yet known… The last few weeks have been fraught with danger for flat owners residing close to water or in areas that have suffered from the storms. We have all been watching the news and seeing homes underwater …
Normally excess options will be offered, when you obtain and insurance quotation for your block. An excess is the first part of a claim which is paid by the Policyholder. For example, your quote could be offered with a £100 excess. If you prefer a NIL excess the premium would normally increase or could be …
